I found this video clip of Congressman Sander Levin (D-Michigan) appearing on Bloomberg’s Money & Politics segment. He is one of the most vocal American politicians in calling for a yuan revaluation. Following from the previous post, he reiterated that lack of action on the part of China on yuan revaluation will mean legislation. Read: punitive tariffs. This short clip is worth viewing (it’s in Windows Media Player format). Some excerpts:
Sander Levin: China continues to rig its currency…it’s a 15 to 40% undervaluation of Chinese currency…
Peter Cook (Bloomberg): How much time are you willing to give [the Bush Administration and Secretary Paulson]?
Sander Levin: If there isn’t action soon [by China on yuan undervaluation], then there will be legislation.
Peter Cook (Bloomberg): Are you worried it might trigger a trade war…?
Sander Levin: I want competition to be fair. That’s not asking for a trade war.