国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

China warns US Congress on trade bill

(Reuters)
Updated: 2007-06-13 08:56


An employee arranges yuan notes at a branch of the China Minsheng Bank in Nanjing, capital of east China's Jiangsu province in this April 28, 2006 file photo. [Reuters]

China fired a warning shot at U.S. lawmakers on Tuesday, saying that proposed legislation to pressure Beijing to step up exchange rate reform risked politicizing trade and would not sway its priorities.

With U.S. Congress members increasingly riled by their nation's trade deficit, a group of senators is expected to unveil legislation this week seeking to pressure Beijing to revalue its yuan currency more quickly and so make its exports more costly.

China's Foreign Ministry, reluctant in the past to wade into trade disputes, told the U.S. lawmakers to back off.

"As for whether the renminbi exchange rate is high or low, the U.S. Congress believes it is too low," ministry spokesman Qin Gang told a news conference, referring to the yuan by its official name.

"But whose standard is this? It's the United States'. But ultimately China's renminbi exchange rate must suit Chinese realities, and it must benefit China's and the world's economic development."

"The US Congress could pass this legislation which will lead to the problem of higher tariffs on Chinese goods... If this happens then the Chinese departments concerned will make a response."

China's warning over the U.S. legislative moves comes as the two countries' trade-sparring risks turning into a shoving match that could spill over into next year's presidential contest.

Many U.S. lawmakers and manufacturers blame Beijing's exchange rate controls for holding down the value of the yuan and fuelling the large U.S. trade deficit with China.

A number of U.S. politicians are preparing legislation that would penalize imports from China to counter what they say is a yuan currency unfairly undervalued by as much as 40 percent.

The Bush administration has also urged Beijing to accelerate exchange rate reforms, including at a high-level economic dialogue last month. But on Monday the Treasury Department said no more legislation was needed to prod China to move faster.

Alan Holmer, the Treasury department's special envoy to China, would not say whether Treasury would formally label China a currency manipulator in a semi-annual report on foreign exchange practices of key trade partners also due out on Wednesday.

Beijing says Washington's lax economic policies are to blame for the trade gap.

"Economic and trade issues should not be politicized, and related problems, especially ones arising from the U.S. domestically, should not be dragged into China-U.S. economics and trade," Qin said.

Qin said that Beijing and Washington would hold a "strategic dialogue" in Washington on June 20-21 to discuss security relations.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
甘肃省| 扶余县| 马边| 镇安县| 宜州市| 武城县| 肇州县| 渭源县| 平度市| 化隆| 保靖县| 左云县| 永顺县| 军事| 安陆市| 镇宁| 玉环县| 临泽县| 海盐县| 纳雍县| 静海县| 孟津县| 安宁市| 唐海县| 海伦市| 中方县| 永善县| 贺兰县| 陈巴尔虎旗| 马山县| 泾源县| 吉木乃县| 双辽市| 寿宁县| 长沙市| 名山县| 宕昌县| 耿马| 军事| 门头沟区| 乌海市|