WASHINGTON ALERT
Stephanie Salmon, Artemis Strategies; Jeff Hannapel & Christian Richter, The Policy Group, Washington, D.C.
Currency Reform Legislation Re-Introduced in Congress BILL WOULD MAKE CHRONIC UNDERVALUATION A PUNISHABLE OFFENSE.
tion of domestic metalcasters in the international marketplace. U.S. Sens. Sherrod Brown (D-
U
Ohio) and Olympia Snowe (R- Maine) and Reps. Sander Levin (D-Mich.), Tim Murphy (R-Pa.) and Tim Ryan (D-Ohio) introduced
.S. legislators have introduced a currency reform bill that could strengthen the posi-
the Currency Reform for Fair Trade Act of 2011 in early February. Includ- ing Levin, Murphy and Ryan, the House bill was introduced with 101 original sponsors, 27 Republican and 74 Democrat. The companion bills would make
prolonged currency undervaluation actionable under U.S. countervail- ing duty law. Their text is virtually
identical to the Currency Reform for Fair Trade Act of 2009 (H.R. 2378), the bipartisan legislation that was passed by the U.S. House of Repre- sentatives by a 348 to 79 vote in the 111th
Congress.
Metalcasting industry advocates argue that illegally undervalued foreign currencies like China’s renminbi repre- sent unfair export subsidies and trade barriers that discourage new invest- ment in America. Te U.S. bilateral deficit with China for the second half of 2010 is projected to be the largest ever recorded by the U.S. for a six- month period. Since the end of last September, when the U.S. House of Represen- tatives passed its bipartisan cur- rency bill, China’s foreign currency reserves have grown by an estimated $200 billion and now conservatively total $2.9 trillion. The renminbi has increased in value by 4% since June 21, 2010. Despite the efforts of the current
and previous administrations, bilateral and multilateral diplomatic talks have not resolved the issue. Chinese Presi- dent Hu Jintao declined to address the issue during his January state visit to Washington.
ON THE HILL
OSHA Issues New Enforcement Directive for PPE
The U.S. Occupational Safety and Health Administration issued a new enforcement directive to provide general enforcement policy and guidance related to personal protective equipment (PPE). The rule required employ- ers in general industry to provide most types of required PPE at no cost to the worker. Changes in this directive include clarifying what type of PPE employers must provide at no cost to workers and when employers are required and not required to pay for PPE. These
22 | MODERN CASTING March 2011
personal protective equipment standards require employers to provide goggles and face shields that fit properly without restricting vision, earplugs and earmuffs when they will reduce noise to accept- able levels and are less costly than administrative and engineering controls, and respirators to protect workers from exposure to air contaminants.
To view the full directive, visit www.
osha.gov/OshDoc/Directive_pdf/ CPL_02-01-050.pdf . Contact Fred Kohloff, American Foundry Society, if you have questions regarding PPE require- ments for metalcasting facilities.
President Obama Unveils Regulatory Strategy, Opportunity for Public to Comment on Rules
In January, President Obama signed an Executive Order directing federal agen- cies to design cost-effective, evidence- based regulations that are compatible with economic growth, job creation and competitiveness. In addition to the order, the president also issued two memos concerning transparency and job creation, one that requires federal agencies to make publicly-available compliance informa- tion easily accessible, downloadable and searchable online, and one that calls on the agencies to consider ways to reduce regulatory burdens on small business.
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