Two Senators Urge Swift Passage of China Currency Bill
On June 17, 2011, Senators Brown (D) and Snowe (R) called for swift passage of their Currency Reform for Fair Trade Act of 2011 (S. 328) in order to give the Administration additional tools to address China’s currency manipulation.
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(S. 328 is similar to a measure passed by the House in 2010, the Currency Reform for Fair Trade Act of 2010 (H.R. 2378). It would direct the Commerce Department to treat currency undervaluation as a prohibited export subsidy and would ensure the government is equipped to respond on behalf of U.S. workers and manufacturers by imposing countervailing duties on subsidized exports from countries like China.)
(See ITT's Online Archives or 02/11/11 news, 11021083, for BP summary on the introduction of S. 328.
See ITT's Online Archives or 06/17/11 news, 11061723, for BP summary of recent push by House Democratic leaders for a vote on the 2011 House China currency bill, H.R. 639.)