China blasts threatened US deadline on yuan as wrong way to handle issue

China said a threatened US bill giving it six months to revalue its currency, the yuan, would be the wrong way to handle the sensitive issue.

A least a dozen US senators are said to have agreed to co-sponsor the bill which would give China “a window of 180 days” to revalue the yuan or face a 27.5 percent tariff on all Chinese manufactured goods entering the United States.

It is expected to be introduced into the US Senate as early as Friday.
Yahoo News