Sens. Want Action On Chinese Currency Manipulation

Law360, New York (February 26, 2010, 4:21 PM EST) -- A bipartisan group of senators has turned the heat up on the U.S. Department of Commerce for failing to investigate allegations that China is keeping its currency artificially low to the detriment of U.S. manufacturers.

In a letter Thursday to Commerce Secretary Gary Locke, the group of 15 senators said the department has failed to allow that China's significant undervaluing of the yuan represents a foreign subsidy that could be met with U.S. duties.

“In the face of China's actions to subsidize its exports at the...
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