Ex-Trade Officials Oppose China Currency Bill

Law360, New York (September 20, 2010, 6:54 PM EDT) -- A group of former trade officials urged congressional leaders in a letter Monday to nix a proposed bill that would punish China for undervaluing its currency by imposing new duties on imports.

The letter, posted on the website of the U.S.-China Business Council, warned that the bill could upset trade relations between the two countries at a time when the U.S. was trying to address other important issues, including market access, intellectual property and indigenous innovation.

“Yes, China's exchange rate needs to reflect market influences and...
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