U.S. House of Representatives has passed a law that the Washington representative for trade sanctions against China, the move to pressure Beijing to revalue its currency more quickly grow to try to get it passed.
Step-by-step on Wednesday in the middle of a long dispute between the countries in trade and employment.
The bill, passed by 348-79 for the treatment of Chinese exchange rate as a subsidy, it opened the door to additional tariffs on Chinese goods to the United States, some special tax.
The law, the size of the Senate, where prospects will be taken is unclear. Senate supporters hope the vote on both proposals to restore the Congress after the November elections get.
"China's manipulation of its currency continued outsourcing of American jobs and cause a very serious problem and the steps needed help," said Sander Levin, chairman of the House of Representatives and the way how the committee.
House of Representatives, Nancy Pelosi said this bill would give the president Barack Obama to exploit in talks with China and "make clear that if China wants stronger trade ties with the United States must follow the rules." And maybe the hope that the threat from China only encourage more exercise.
Before the vote, China's central bank reiterated its promise to increase flexibility and improve how they manage the yuan exchange rate.
American politicians have long economic retaliation for what they consider China's policy of undervaluing the yuan to give an unfair advantage in exports threatened.
But he was not sent to the heads of all law to go into law.
Obama and Chinese Prime Minister Wen Jiabao said the Chinese currency and large trade surpluses with the United States within the framework of the UN General Assembly last week.
"The reason is the Chinese currency for their campaigns, because their currencies undervalued," Obama said on Wednesday.
"This is not the main reason for our trade imbalance, but it is a specific reason."
Modest Gain
Despite the modest achievements of the yuan against the dollar since Beijing allows more movement in June, the International Monetary Fund (IMF), economists estimate that the yuan undervalued by 27.5 percent.
Chinese yuan against the rope is under control, to see how countries around the world by returning to the export of economic recovery, which fear could weaken its currency deliberately to advantage.
Japanese intervention to weaken the yen this month for the first time in six years.
The movement is certainly more muddying U.S. relations with Beijing, hate criticism, saying the decision on the speed of currency reform itself.
China, the biggest foreign buyer of U.S. Treasury bonds with a portfolio of $ 847bn in July, said that even a large trade surplus with the United States because Americans save too little and not making Chinese goods sold.
Even Obama's position on legislation, Majority Leader Steny Hoyer said the political work at the White House to ensure it does not violate the laws of the World Trade Organization (WTO).
After receiving the yuan stable against the dollar by the financial crisis begins in Beijing are allowed, to swim against the dollar on June 19.
Since then, the yuan, the highest level against the dollar in more than five years but reached more than 2 percent.
The law, the size of the Senate, where prospects will be taken is unclear. Senate supporters hope the vote on both proposals to restore the Congress after the November elections get.
"China's manipulation of its currency continued outsourcing of American jobs and cause a very serious problem and the steps needed help," said Sander Levin, chairman of the House of Representatives and the way how the committee.
House of Representatives, Nancy Pelosi said this bill would give the president Barack Obama to exploit in talks with China and "make clear that if China wants stronger trade ties with the United States must follow the rules." And maybe the hope that the threat from China only encourage more exercise.
Before the vote, China's central bank reiterated its promise to increase flexibility and improve how they manage the yuan exchange rate.
American politicians have long economic retaliation for what they consider China's policy of undervaluing the yuan to give an unfair advantage in exports threatened.
But he was not sent to the heads of all law to go into law.
Obama and Chinese Prime Minister Wen Jiabao said the Chinese currency and large trade surpluses with the United States within the framework of the UN General Assembly last week.
"The reason is the Chinese currency for their campaigns, because their currencies undervalued," Obama said on Wednesday.
"This is not the main reason for our trade imbalance, but it is a specific reason."
Modest Gain
Despite the modest achievements of the yuan against the dollar since Beijing allows more movement in June, the International Monetary Fund (IMF), economists estimate that the yuan undervalued by 27.5 percent.
Chinese yuan against the rope is under control, to see how countries around the world by returning to the export of economic recovery, which fear could weaken its currency deliberately to advantage.
Japanese intervention to weaken the yen this month for the first time in six years.
The movement is certainly more muddying U.S. relations with Beijing, hate criticism, saying the decision on the speed of currency reform itself.
China, the biggest foreign buyer of U.S. Treasury bonds with a portfolio of $ 847bn in July, said that even a large trade surplus with the United States because Americans save too little and not making Chinese goods sold.
Even Obama's position on legislation, Majority Leader Steny Hoyer said the political work at the White House to ensure it does not violate the laws of the World Trade Organization (WTO).
After receiving the yuan stable against the dollar by the financial crisis begins in Beijing are allowed, to swim against the dollar on June 19.
Since then, the yuan, the highest level against the dollar in more than five years but reached more than 2 percent.
No comments:
Post a Comment