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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.
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