US Congressmen Decry Chinese

[Nottingham]

http://www.voanews.com/article.cfm?objectID=9FB2B77D-9553-40F1-A44067706B079D11&title=US%20Congressmen%20Decry%20Chinese

US Congressmen Decry Chinese
VOA News
10 Sep 2003, 22:21 UTC


Members of the U.S. Congress have introduced legislation aimed at punishing China for what they say amounts to unfair trade practices.
Three Republican Congressmen sponsored the proposed law Wednesday in Washington. They say China is keeping the value of its currency, the yuan, artificially low so it can flood U.S. markets with inexpensive goods, a charge Beijing has rejected.

China has pegged the yuan at 8.3 to the dollar since 1994. Legislation sponsors say Beijing should float the yuan to let world markets determine the currency's real value.
The proposed law would require the U.S. Treasury Secretary to report to Congress on whether China is keeping its currency undervalued to gain a trade advantage. It this were found to be the case, the United States would impose new tariffs on China equal to the perceived commercial advantage.

On Tuesday, a group of U.S. senators proposed a substantial tariff increase on imports from China to prod Beijing into changing its currency practices. The proposal would set an across-the-board 27.5 percent tariff on Chinese imports.

more....


Wow the Republicans have declared War on the Chineese! They always sput about Free Trade!!! Wonder whats got the Republicans all in a stew!!!

[dArKeR]

1. Bush orders China President jet bugged. Isn't that unfair trade practices?

http://www.lincolnheritage.org/Articles/The_Address__Article_Search/Address_Articles_since_1997/Address__1997___Foriegn_Policy/China_Says_President_s_Jet_Bug/china_says_president_s_jet_bug.html