This week’s Cotton Newsline is 4 cuts. All cuts are Gary Adams, vice president of economics and policy analysis for the National Cotton Council.
Suggested Introduction 1:
The House of Representatives passed currency reform legislation before adjourning for a recess leading up to the November elections. Gary Adams, vice president of economics and policy analysis for the National Cotton Council says this legislation which targets countries with significantly undervalued currencies passed by a margin of 348 in favor to just 79 against the legislation.
Suggested Introduction 2:
Adams says the legislation does define fundamentally undervalued currencies.
Suggested Introduction 3:
This legislation is now set to be reviewed by the Senate.
Suggested Introduction 4:
According to Adams the potential impact of this bill on the cotton industry is primarily in the textile sector.