Senators to announce plans on China trip, bill

WASHINGTON (Reuters) – Two U.S. senators have scheduled a
news conference at 10:30 a.m. (1530 GMT) on Wednesday morning
to discuss plans for an expected trip to China and legislation
threatening that country with across-the-board U.S. tariffs if
it does not revalue its currency.

Sen. Charles Schumer, a New York Democrat, and Sen. Lindsey
Graham, a South Carolina Republican, have been expected to
travel to China this month to urge the Chinese leadership to
take action on currency and other issues.

The senators are co-authors of a bill that threatens China
with a 27.5 percent tariff on its exports to the United States
if does not revalue its currency within a specified period of
time. That measure got the support of 67 senators in a
procedural vote that took place nearly a year ago.

The senators have been promised an up-or-down vote on the
bill by the end of March and have been expected to decide after
their trip whether to have one or not. Each time, a previous
deadline for a vote on their bill has approached, the senators
have agreed to a delay to give China more time to act.