Murkowski Votes Against “Short-Sighted” Currency Bill
Senator Cites Millions in Threatened Trade Between Alaska and China
Washington, dc – Senator Lisa Murkowski today voted against U.S. Senate bill S.1619, the Currency Exchange Rate Oversight Act of 2011:
“This bill is a short-sighted approach that’s more political than practical, with serious negative possible impacts on Alaska and across America. China is Alaska’s second largest export market, behind Japan – we sold $920 million worth of seafood, forest products and mineral ore to China in 2010 alone. These attempted punitive measures could have serious ramifications, whether it comes in the form of higher costs for Chinese goods, or them rethinking their purchasing decisions with America.
“I share my colleagues’ concern with the undervalued Chinese currency, but I do not share their appetite for a confrontation that could hit Alaskans and Americans in the wallet as a result.”