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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.