A bipartisan Senate bill has been introduced to address the negative impacts of currency manipulation. The Senate bill incorporates the text of a bill introduced earlier this year and that passed the House in 2010 by a vote of 378-49.

Rep Michaud recently highlighted a report which found that currency manipulation is a major driver of the U.S. trade deficit with China. The report also found that this trade deficit has cost the U.S. 2.8 million jobs, including 9,545 jobs in Maine, since China entered the World Trade Organization (WTO) ten years ago.