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H. 3947

STATUS INFORMATION

Concurrent Resolution
Sponsors: Reps. W.D. Smith, Hayes, Ott and J.E. Smith
Document Path: l:\council\bills\dka\3359dw05.doc

Introduced in the House on April 19, 2005
Currently residing in the House Committee on Invitations and Memorial Resolutions

Summary: Chinese exports

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   4/19/2005  House   Introduced HJ-10
   4/19/2005  House   Referred to Committee on Invitations and Memorial 
                        Resolutions HJ-10

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VERSIONS OF THIS BILL

4/19/2005

TO MEMORIALIZE CONGRESS TO PASS THE BILL SPONSORED BY SENATORS LINDSEY GRAHAM AND CHARLES SCHUMER WHICH WOULD IMPOSE A 27.5 PERCENT TARIFF ON ALL CHINESE EXPORTS TO THE UNITED STATES IF THE CHINESE DO NOT CEASE UNDERVALUING ITS CURRENCY.

Whereas, the Chinese government has for years been manipulating its currency; and

Whereas, by undervaluing its currency, China has given that country a tremendous advantage and helped build China's record trade surplus with the United States; and

Whereas, this trade surplus which amounts to $168 billon has had a devastating effect on wages and jobs in this country; and

Whereas, since this practice was begun by China, it has cost 1.4 million jobs in this country with the textile industry in South Carolina taking the brunt of the job loss; and

Whereas, Senators Lindsay Graham (R-SC) and Charles Shumer (D-NY) have proposed legislation that imposes a 27.5 percent tariff on all Chinese exports to this country if the Chinese do not satisfactorily revalue their currency within six months after the legislation passes; and

Whereas, these Senators have won a key vote to have their legislation attached to a spending bill as an amendment; and

Whereas, they have agreed to withdraw the amendment in exchange for a separate vote on their legislation. Now, therefore,

Be it resolved by the House of Representatives, the Senate concurring:

That members of the South Carolina General Assembly memorialize Congress to pass the bill sponsored by Senators Lindsey Graham and Charles Schumer which would impose a 27.5 percent tariff on all Chinese exports to the United States if the Chinese do not cease undervaluing its currency.

Be it further resolved that a copy of this resolution be forwarded to the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.

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