The House just passed a bill allowing for sanctions against countries that manipulate their currency, which is actually in accordance with free trade theory; an undervalued currency is a tariff on imports and a subsidy on exports.

The “free trade” absolutists would disagree, arguing since free trade creates democracy, cures rainy days, and keeps your daughter from dating that guy with the tattoo and the tongue studs.

Of course what they are really arguing is that they want to do whatever they can to depress American worker’s wages, because that’s how they get their consulting gigs.

This bill means nothing, and it never will, because it will never pass the Senate, and because in order for the tariff to be enforced, the US Commerce department must rule that the currency is “fundamentally undervalued,” which it will never do, because, it’s run by guys who worry that if they do so, their daughter will start dating that guy with the tattoo and the tongue studs.