H 3947 Concurrent Resolution, By W.D. Smith, Hayes, Ott and J.E. Smith
 A CONCURRENT RESOLUTION 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.

   04/19/05  House  Introduced HJ-10
   04/19/05  House  Referred to Committee on Invitations and Memorial
                     Resolutions HJ-10

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.