Latest News:  
Beijing   Sunny    10 / 24   City Forecast

Home>>Foreign Affairs

White House voices concern on China currency bill

(Xinhua)

09:58, October 06, 2011

WASHINGTON - The White House on Wednesday expressed "concerns" over a controversial bill on the so-called " currency manipulation" by China.

The legislation raises "concerns about consistency with our international obligations, and we are in the process of discussing those issues with members of Congress," White House spokesman Jay Carney said.

"If this legislation were to advance, those concerns should be addressed," he said, without going into detail about the White House concerns.

The US Senate on Monday cleared a procedural vote to advance the bill -- Currency Exchange Rate Oversight Reform Act of 2011 -- which sets in motion a process for imposing punitive tariffs on a country with misaligned currencies, noticeably Chinese renminbi, or yuan.

Even if the measure passed a floor vote in the Senate, it needs to get approval from the House before it could reach the president to sign into law.

Chances of the bill moving forward in the House of Representatives appeared doubtful as Republican House Speaker John Boehner came out against the bill on Tuesday.

"It's pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency," Boehner said.

"This is well beyond what Congress ought to be doing, and while I've got concerns about how the Chinese have dealt with their currency, I'm not sure this is the way to fix it."

Republican House Majority Leader Eric Cantor earlier warned an "escalation" in trade tensions could have painful "unintended consequences" and said President Barack Obama should use existing powers "if there are unfair practices going on."

Immediately after the Senate vote on Monday, the Chinese government expressed its strong opposition to the US Senate move, warning that it "seriously violates rules of the World Trade Organization and obstructs China-US trade ties."

US media, including the Washington Post editorial, said the Senate bill is "counterproductive" and will do more harm than good to the United States.

Email|Print|Comments(Editor:陈乐乐)

Leave your comment9 comments

  1. Name

PD User at 2011-10-08108.9.8.*
It is time for the U.S. to bring home its manufacturing. Our government, like yours, has an obligation to look after the interests of its people. We here in the U.S. must become more self-sufficient and you, in China, must begin to consume more of what you produce. In the longer term, the size of our trade imbalance benefits neither nation.
PD User at 2011-10-0880.94.16.*
2011-10-7.Example reality japan"s-how to want homiliate western politician to fix audience with Mikado to tell-this His issue,even president"s american kneel.Japan have system democracy.To have mean in person character people.To be boor"s emperor"s and president"s for own national"s.US to be in great crisis own politic"s ego to have rival to world leader-China which be on Top economy-politic"s to come chinese time.
PD User at 2011-10-0758.172.97.*
The Americans used to blame and bash Japan when the Japanese were competitive and successful. Now it is China's turn. Why is it that the Americans are always blaming others for their own shortcomings and problems? When are the Americans going to become truthful and fair?
Ogele at 2011-10-07122.198.16.*
US should accept the fact that China is doing fine so far, and should embrace and respect the Chinese "era" there is time for everything in this life, China have risen, they"re growing strong and fast. and this should not be a threat to the outside world, but a blessing. China is a very peaceful country, and almost crime free(compared to most countries in the developed world)I guess the issues are; language, human rights, democracy, one party, arms sales, currency........
Ogele at 2011-10-07122.198.16.*
US should accept the fact that China is doing fine so far, and should embrace and respect the Chinese "era" there is time for everything in this life, China have risen, they"re growing strong and fast. and this should not be a threat to the outside world, but a blessing. China is a very peaceful country, and almost crime free(compared to most countries in the developed world)I guess the issues are; language, human rights, democracy, one party, arms sales, currency........
  

Selections for you


  1. Traditional hand-made boots and hats with tiger images

  2. Asian and World Bodybuilding & Physique Sports Championships unveil results

  3. Afghans demand end to foreign troops in Kabul protest

  4. Fans mourn to Steve Jobs outside Apple Store in Chengdu

Most Popular

Opinions

  1. Q&A with Michigan Gov. Rick Snyder
  2. Will China be Europe's savior?
  3. Taiwan arms sales becomes US political spell
  4. Mutual trust needed for nations' common progress
  5. China's SMEs now stranded in credit crunch

What's happening in China

Centennial commemorations of 1911 Revolution: family and marriage change

  1. Inflation saps workers' real wages: report
  2. Senior's Day celebrated across China
  3. Death toll rises to 17 in coal mine accident
  4. China calls for boycott on online falsehoods
  5. Typhoon Nesat causes heavy damage in S. China

PD Online Data

  1. Challenge to the traditional view of love and marriage
  2. House means happiness? Young Chinese' home-owning dream
  3. Fighting AIDS,China is acting
  4. Worldwide Confusius Institutes
  5. Chinese Qingming Festival