Senator Webb responds

In the name of journalistic fairness, I am posting Jim Webb's response (via e-mail) to my letter from two weeks ago regarding China and currency policy. While I don't agree with everything he says (I actually do agree with several of his big-picture views, but there are VERY important departures which lead us to dramatically different conclusions), I appreciate that he (or someone in his office) took the time to respond. No word yet from Mark Warner, but I'll similarly post his response if and when I receive one.

Dear Mr. Powers: 

Thank you for contacting my office regarding international trade. I appreciate your taking the time to share your specific views and concerns with me. 

Since entering the Senate, I have worked to ensure U.S. trade policy prioritizes workers' rights at home and abroad, and advances the geopolitical and economic interests of the United States.  I believe that properly constructed trade agreements benefit our country and our workers.  Trade agreements that truly focus on fair trade-as well as free trade-provide consumers with goods and services at more affordable prices, make our exports easier to sell abroad, and promote important foreign policy objectives. 

For example, I have called for a prompt resolution of outstanding issues related to the U.S.-Korea Free Trade Agreement. Passing this agreement will help industries in Virginia and will be a strong affirmation to our ally, the Republic of Korea, and the world of the U.S. commitment to security and prosperity in the Asia Pacific region, open markets, and the rules-based trading system. 

I also strongly support the enforcement of trade laws to combat unfair practices by our nation's trading partners. I have encouraged the U.S. Department of Commerce and the U.S. International Trade Commission to maintain tariffs on imports that are sold at prices that violate trade rules or are unfairly subsidized, damaging industries in Virginia and across the country. I have urged the Office of the U.S. Trade Representative to aggressively defend U.S. economic interests before the World Trade Organization. 

In addition, I am an original cosponsor of the Currency Exchange Rate Oversight Reform Act of 2010 (S. 3134), which provides for meaningful sanctions to be applied to countries, such as China, that manipulate their currency. China's currency is significantly undervalued, severely limiting U.S. exports to China and, most importantly, causing job losses here at home. Experts estimate that an increase in China's currency of 20 percent would decrease the U.S. trade deficit by $50 billion to $120 billion. 

To help workers in Virginia who have lost their jobs due to trade, I have supported petitions for assistance through the Trade Adjustment Assistance program, which provides worker training and other valuable assistance. 

As the U.S. Senate continues to address trade issues, please be assured that your views will be helpful to me and my staff.  I hope that you will continue to share your views with us in the years ahead. 

I would also invite you to visit my website at www.webb.senate.gov for regular updates about my activities and positions on matters that are important to Virginia and our nation. 

Thank you once again for contacting my office. 

Sincerely, 

Jim Webb

United States Senator

The more I read it, the more it comes across as a bit of a form letter, regurgitating his talking points on the catch-all issue of "international trade" without specifically addressing any of my concerns. But so be it. A response is a response, and I'm more than willing to post it here without directly arguing with his points. I'll save that for a different post.