Republicans must address China's currency manipulation before they bring more flawed free trade deals up for Congressional approval, Nancy Pelosi, minority leader of the U.S. House, announced at the opening of the 2011 Constitutional Convention. Democrats have already held up proposed trade deals by demanding renewal of Trade Adjustment Assistance (TAA) for workers displaced by imports. Pelosi suggested that the deals also fall behind action on China's manipulation of its currency, which causes its exports to the United States to be artificially cheap and U.S. exports to China to be artificially expensive. This floods the U.S. market with Chinese goods and kills U.S. industry and jobs.
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