In US, a legislation has been introduced in the Senate that will give the Obama Administration additional tools to address currency manipulation by China. After introducing the legislation in the Senate, Senator Sherrod Brown said by combating currency manipulation, US can help level the playing field for American manufacturers and speed up country's economic recovery. The legislation will ensure the government is equipped to respond on behalf of American workers and manufacturers by imposing countervailing duties on subsidised exports from countries like China. It directs the US Department of Commerce to treat currency undervaluation as a prohibited export subsidy.
News On AIR | February 11, 2011 11:04 AM
China currency Bill introduced in US Senate