It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to be competitive. It is not a viable, feasible strategy, and we will not engage in it.
Challenging unfairly subsidized products, fighting counterfeit goods and intellectual property theft and holding countries accountable for an unfair currency regime will help American companies remain competitive.
Ensuring ports are dredged is essential to securing America's place in global trade.
A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.
The only reason you would want your currency to fall, if you could control it, is in order to get more exports.
My theme this evening is that America needs a competitive dollar.
ITC works to help firms in poor countries become more competitive and overcome the barriers that are keeping their goods and services out of international markets.
It has been proven through studies by the World Bank and others that companies participating in international trade are more competitive.
