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A.I.M. Joins National Fair Currency Alliance to Address China Imports Issue

The Associated Industries of Massachusetts (A.I.M.), an employer association of more than 7,500 Bay State businesses and institutions, announced that it has joined the Washington, D.C. based Fair Currency Alliance, a group of organizations representing manufacturing, agriculture, and labor that will present a "301 Petition" to the Bush Administration to address the problem of Chinese currency manipulation.

Section 301 of the Trade Act of 1974 allows the United Sates to impose trade sanctions against foreign countries that violate companies’ rights under trade agreements or are unjustifiable, unreasonable, or discriminatory. The Alliance has retained the firm Collier Shannon Scott to develop the petition.

The Alliance believes that the Chinese practice of intervening to control its currency at a level that is significantly undervalued — by as much as 40% — against the dollar conveys a trade advantage that is both undervalued and unreasonable. “The problem is solvable, but China must reform its current practices if progress is to be made in leveling the playing field for American producers,” said Richard Lord, A.I.M.’s President and CEO.

Lord noted that the Fair Currency Alliance supported recent efforts by the Bush Administration to engage the Chinese government on the currency issue, but said, “We believe that a section 301 case will give critical leverage to the Administration in their negotiations with Beijing by providing the necessary focus to resolve this most serious issue in a timely manner.” For more information on A.I.M., see


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