The congress of the USA prepares the bill of sanctions against exporters of China for a manipulation a yuan exchange rate

The U.S. Congress is preparing a bill to impose sanctions over the course of China's currency manipulation. On this, as Vedomosti said Thursday the chairman of the lower house of Sander Levin. According to him, responsible for exchange rate policy in Beijing will be exporting Chinese goods.

The adoption of the document - a necessary measure, but it will be approved if the country does not find a compromise solution, "Levin said: to convince China to make significant adjustments monetary policy failed. Voting on the bill in Congress on Friday.

President Barack Obama and President Wen Jiabao Thursday held talks on trade, but their outcomes not yet known. On the eve of the Obama administration is defiantly pulled away from the initiative of parliamentarians. Using the law to put pressure on China in exchange rate policy issues - "unwise and short-sighted decision," said in a statement the U.S. State Department. At the same time, Deputy Secretary of State Robert Hormats has criticized China for its "excessive" export support. Reliance on debt-ridden American consumers - the wrong strategy, he said: "There are established rules of world trade, and we try to convince China."

U.S. and China are negotiating on RMB exchange rate over two years, then the glow of the debate intensifies, it weakens. In June, the PRC government to soften its stance and promised that the course will become more flexible. Since then the yuan has appreciated against the dollar by 2%. But U.S. officials are counting on more. Yuan is undervalued by 25-40%, giving Chinese exporters an unfair advantage over their competitors and stimulates the unemployment in the U.S., according to a memorandum of Congress. According to the U.S. Ministry of Trade, China's trade surplus with the U.S. in the first half of this year amounted to 119 billion dollars (in 2009 - 227 billion).
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