Senate may consider China currency bill next week
AFP reports that the Senate may move forward next week with a bill to address China's currency manipulation.
Senate Democratic Majority Leader Harry Reid predicts the legislation will pass:
"China trade is a jobs bill that's been long, long overdue. It's a bipartisan bill and I feel very comfortable we're going to pass it," Reid told reporters at a press conference, using shorthand for the proposal.
Reid said that "next week" the Democratic-led chamber will "start our work on trade matters" including the legislation on China's currency, though it was unclear when the bill would come to a final vote.
The measure aims to make it harder for the US Treasury Department to avoid labeling Beijing a currency cheat, triggering various sanctions, while making it easier for US companies to seek retaliatory tariffs on Chinese goods.
Related recent Blogs
- Maine State Senate Passes Buy American Legislation • by scapozzola • 06/19/2013
- Generally favorable manufacturing survey for New York state • by scapozzola • 06/18/2013
- President Obama talks about China on Charlie Rose. • by scapozzola • 06/18/2013
- Checking-in from manufacturing conferences in Wisconsin • by LDonia • 06/17/2013
- Make the right choice for your pet -- buy American-made • by TGarland • 06/17/2013
- A Discussion on the Obama-Xi Summit • by TGarland • 06/13/2013
- Chart of the Day: A tough three months for America's manufacturing sector • by LDonia • 06/13/2013
- Manufacturing employment will level off, says report • by mmcmullan • 06/12/2013
- The Relationship Between the U.S. and China • by TGarland • 06/12/2013
- Could U.S. tech manufacturing see a mini-rebound? • by LDonia • 06/11/2013