Open Letter to Sen. Charles Schumer

Sen. Charles Schumer

Capitol Hill

Washington, DC

Dear Sen. Schumer:

Up-in-arms that the Chinese offer American consumers exceptionally good bargains, you propose legislation to pressure the Chinese to raise the prices of their exports.  And, insisting that Congress pass your bill speedily, you warn that "every day we wait is a day we lose wealth."

Let me see if I grasp your economics.  Low prices – including low prices on many imports that American producers use as inputs in their own...