Senators Urge Tariffs Against China's Currency Policy

By Samuel Howard

Law360, New York (November 19, 2009, 5:21 PM ET) -- Looking to correct the economic imbalance between the U.S. and China, lawmakers from both sides of the aisle have urged the U.S. Commerce Department to investigate China’s currency manipulation and potentially impose hefty tariffs on U.S. imports from its soaring trading partner.

On Thursday U.S. Sens. Charles E. Schumer, D-N.Y., and Lindsey Graham, R-S.C., petitioned the Commerce Department to probe China’s intervention in the currency market and treat the undervaluation of the renminbi as a form of subsidy that violates international trade agreements and triggers stiff...
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