Treasury Sec. Geithner Visits Pennsylvania Today

As the Pittsburgh Post Gazette is reporting, U.S. Treasury Secretary Tim Geithner is scheduled to visit Pittsburgh today, where he will be “greeted by a chorus of calls to bolster ailing U.S. manufacturers by taking action against China’s currency and trade policies.”

The Post Gazette article cites a recent report from the Economic Policy Institute (EPI) showing that the four congressional districts in the Pittsburgh region have lost a combined 17,500 jobs due to the U.S. trade deficit with China. Overall, the report points to 2.4 million American jobs lost to China since 2001.

An interactive map by the Alliance for American Manufacturing illustrates these job losses by state. A quick check of the map shows Pennsylvania having lost 95,400 jobs to China since 2001.

Hopefully, Sec. Geithner will take note of this as his Treasury Department prepares its semi-annual report on currency. That report could designate China as a currency manipulator, which would be a helpful step for U.S. manufacturers and their workers who are stuggling to compete against heavily subsidized exports from China.

##

Comments