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Snow against trade sanctions on China
www.chinaview.cn 2005-04-22 01:58:19

     WASHINGTON, April 21 (Xinhuanet) -- US Treasury Secretary John Snow on Thursday urged the US Congress to reject legislative proposals that would use trade sanctions to pressure China to introduce a flexible currency.

    A proposal that would impose tariff on Chinese imports if the Chinese government doesn't ease its yuan peg to the US dollar would be "a mistake," Snow told the Appropriations Subcommittee ofthe US House of Representatives.

    Two US Senators have sponsored a proposal that would impose a 27.5 percent tariff on Chinese imports if the Chines government doesn't ease its yuan peg to the dollar.

    Snow also repeated his argument that a flexible currency would benefit China by allowing it more control over its economy. Enditem     

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