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China's Ministry of Commerce deeply concerned at U.S. attempt to seek duties on Chinese products imports

English.news.cn   2011-10-04 11:26:45 FeedbackPrintRSS

Video>> U.S. senate begins debate on RMB exchange rate

BEIJING, Oct. 4 (Xinhua) -- Some U.S. senators have violated internationally accepted regulations by allowing a debate that seeks duties on Chinese imports, said Shen Danyang, a spokesman of the Ministry of Commerce, on Tuesday.

The spokesman said the yuan exchange rate was not to blame for China-U.S. trade imbalance. It is unfair to use a controversial bill on so-called "currency manipulation" by China to transfer the U.S. internal contradictions.

He added the global economy is in a sensitive period and needs a stable international monetary environment.

The U.S. Senate voted Monday (local time) to allow a debate on the controversial bill amid strong opposition from China and U.S. business groups.

The 79-19 vote opened a week-long debate on the bill, the last procedure before it is to be finally voted on the Senate floor. And for the bill to become law, it would still have to clear the House of Representatives and then be signed by President Barack Obama.

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China "firmly opposes" US Senate's yuan bill, FM spokesman

BEIJING, Oct. 4 (Xinhua) -- China here Tuesday expressed firm opposition on the U.S. Senate's bill on Chinese yuan after it voted to allow a debate on the bill on so-called "currency manipulation" by China.

Such a move "seriously violates rules of the World Trade Organization and obstructs China-US trade ties," Foreign Ministry spokesman Ma Zhaoxu said in a statement. Full story

U.S. Senate votes to allow debate on yuan bill amid China's opposition

WASHINGTON, Oct. 3 (Xinhua) -- The U.S. Senate voted Monday to allow a debate on a controversial bill on so-called "currency manipulation" by China amid strong opposition from China and U.S. business groups.

The 79-19 vote opened a week-long debate on the bill, the last procedure before it is to be finally voted on the Senate floor. And for the bill to become law, it would still have to clear the House of Representatives and then be signed by President Barack Obama.  Full story

Pushing yuan bill risks trade war, won't help U.S. recovery

BEIJING, Oct. 3 (Xinhua) -- With chronic financial ailments and persistent high unemployment driving thousands of protesters to the streets in New York and 50 other cities, some U.S. lawmakers are, tediously, again trying to blame the Chinese currency instead of addressing the real reasons for the country's economic woes.

After a procedural vote Monday, the U.S. Senate is expected to debate a bill which, if passed, will empower U.S. companies to seek retaliatory tariffs on goods imported from countries whose currencies they deem "undervalued." Full story

Editor: Tang Danlu
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