China's exports to the United States continue to surge because China is subsidizing its currency on an unprecedented scale.
This is as clear as the nose on your face, but yet the Administration won't acknowledge it.
In effect, the Chinese government subsidizes exports by 40 percent.
The continued low-priced, high-volume assault on the U.S. market by Chinese activated carbon is destroying the profitability of the domestic industry, despite its best efforts to reduce costs and maintain pricing and profits.
We have low expectations for the trip and doubt anything will result.
