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A leading U.S. lawmaker says the Senate will move forward next week on
legislation that aims to encourage China to raise the value of its currency as a
way to strengthen the U.S. job market.Senate Majority Leader Harry Reid said
Monday the Senate will take up the bi-partisan currency legislation next week,
and that he feels "very comfortable" it will be passed.The Senate bill would
require the U.S. Commerce Department to investigate if a country is undervaluing
its currency, which would be regarded as a government subsidy under U.S. law.
Affected U.S. companies would then be allowed to seek retaliatory tariffs on
goods imported from the country.
Some analysts say China has intentionally undervalued the yuan, giving
Chinese companies an unfair advantage against U.S. manufacturers.One of the
bill's sponsors, Democrat Sherrod Brown ((of Ohio,)) said last week China was
"cheating" when it and others manipulate their currency and keep prices of their
exports artificially low on world markets. Democratic Senator Charles Schumer
((of New York)) used more direct language, saying that China is committing
"economic murder."Earlier this month, the Economic Policy Institute - an
American economic research organization - estimated that the country's growing
trade deficit with China has eliminated or displaced nearly 2.8 million jobs
since 2001.But an editorial in China's state-run Xinhua newspaper spoke out
against the currency legislation, saying a stronger yuan "would not
fundamentally change the structural problems that existed in the U.S.
economy." |
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发表于 2016-7-10 17:38:32