Washington, D.C. – U.S. Senator Rob Portman (R-Ohio) today released the following statement on news of China lowering the value of its currency amid worry of economic slowdown:

“Ohio workers can compete and win on a level playing field. Unfortunately, the Administration's refusal to take on China's currency manipulation is enabling Chinese workers to have an unfair advantage over Ohio workers. I fought to include bipartisan language in the Trade Promotion Authority to address currency manipulation on behalf of Ohio workers, and the bill includes two principal negotiating objectives that explicitly call on the Administration to address currency manipulation through our ongoing trade negotiations. Today's news that China has yet again lowered the value of its currency is another harsh reminder that we cannot afford to sit idly by as China refuses to play by the rules; any negotiations on the Trans-Pacific Partnership must prioritize combatting currency manipulation by our foreign competitors.”