Schumer: USTR Rejection of China Trade Investigation Ignores Problem

The United States Trade Representative (USTR) issued a statement this afternoon rejecting the China currency section 301 petition. Senator Chuck Schumer, author of the China Free Trade Act and the Currency Manipulation Definition Act, issued the following statement in response:

For a third time, the Administration is turning a blind eye to Chinas unfair trade practices. While I appreciate that the Bush Administration conceded this week for the first time that Chinas policies are damaging to the world economy, what good will it do if they wont take action?