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US considers sanctions over high Chinese currency
Middle East News.Net
Thursday 3rd July, 2008
US legislators are still hoping to impose sanctions on China over what they say is its undervalued yuan currency.
Four senior senators say China has likely manipulated its currency for trade gains.
the senators from both parties have pledged to continue working together toward legislation to address China's currency exchange rate regime.
Democratic senators Max Baucus and Christopher Dodd and Republicans Chuck Grassley and Richard Shelby say that an option to impose sanctions is still in mind.
A mandatory twice-yearly US Treasury report to Congress in May accused China of keeping its yuan currency substantially undervalued.
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