Congressman Rick Larsen's Online Office

Washington, D.C. — Today, U.S. Representative Rick Larsen (WA-02), testified before the U.S. House of Representative’s Committee on Ways and Means at a Hearing on China’s Trade and Industrial Policies.

The following are excerpts from Larsen’s testimony:

“It is my assessment that in fact lack of action on currency by the Chinese Government may be driving Congress to action on currency legislation.

“Although I personally question the utility of such an action, I also do not doubt the likelihood of it.

“Letting the renminbi appreciate against the dollar is a tool China has in its toolbox to contain rising inflation.

“Currency policy is not a China policy.

“There are a number of other issues that have a greater impact on jobs here in the U.S., including indigenous innovation particularly related to government procurement polices, IPR protection, and Chinese industrial policies.

“The relationship will continue to face bumps in the road, but sustained and committed dialogue between our two nations on currency, government procurement, investment restrictions, market access barriers, indigenous innovation, and even military to military is the best way forward.

Larsen is the co-chair of the bipartisan U.S.-China Working Group (USCWG). The USCWG includes 63 Members from the U.S. House of Representatives focuses on educating Members and staff about the U.S.-China relationship through meetings and briefings with academic, business and political leaders from the United States in China. Larsen represents the 2nd Congressional District of Washington state. China is the largest and more rapidly growing export market for Washington state. One in three jobs in Washington state is tied to trade, and from 2000 - 2009, Washington state exports to China grew by 379 percent.

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