Geithner to appear before Senate panel on China

The Economic Policy Institute (EPI) recently reported that the Chinese government's manipulation of its currency has caused the loss of 2.4 million jobs in manufacturing and other trade-related industries between 2001 and 2008. U.S. workers also experienced lower wages because competition from lower wage countries, like China, were undercutting the cost of goods sold by U.S. companies.

Finance members like Chairman Max BaucusMax Sieben BaucusBooker tries to find the right lane  Top Lobbyists 2017: Hired Guns GOP tries to keep spotlight on taxes amid Mueller charges MORE (D-Mont.), ranking member Chuck Grassely (R-Iowa) and senior committee members like Sen. Charles SchumerCharles (Chuck) Ellis SchumerJuan Williams: The politics of impeachment Texas Republicans slam White House over disaster relief request Dem rep: Trump disaster aid request is 'how you let America down again' MORE (D-N.Y.) have supported legislation deeming China a currency manipulator. 

Last April, Geithner delayed issuing a semi-annual foreign exchange report that would have labeled the country a manipulator because it would likely have damaged relations between the United States and the Asian country.  

EPI predicts that ending China's currency manipulation would help create at least 1 million U.S. jobs within the next few years.