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Wednesday, October 12, 2011

Senate Bringing Pressure on China

The Senate on Tuesday approved a bill that would put greater U.S. pressure on China and other countries to allow their currency to appreciate, giving the green light to a measure that supporters say would level the playing field with China but that both the White House and House Republican leaders have warned could lead to a trade war.

The chamber approved the measure on a 63-to-35 vote. The next step remains uncertain; House Republican leaders have declined to bring the measure up for a vote, arguing that the White House must first formally make its position known.

Read the story here.

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