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.
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