US bill aims to shake China off the peg

If China does not ease controls on its currency within six months, it will face a 27.5% tariff on all exports to the US under legislation to be introduced in the Senate on Friday. According to Wes Hickman, a spokesman for Senator Lindsey Graham, a South Caroline Republican who is sponsoring the bill, along with Senator Charles Schumer, a New York Democrat, the bill, if approved, will require China to “abide by international trade agreements and stop manipulating the value of the yuan”.
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