China trade bill to be introduced in Congress
Posted on: Friday, 24 March 2006, 16:29 CST
WASHINGTON (Reuters) - The top Republican and Democrat on the Senate Finance Committee said they would introduce long-awaited China trade legislation on Tuesday, in a move aimed at siphoning support from a controversial bill threatening China with tariffs.
Senate Finance Committee Charles Grassley, an Iowa Republican, and Sen. Max Baucus, a Montana Democrat, said in a press release on Friday they would unveil their bill just a few days before the Senate is scheduled to vote on bill threatening to punish China for its currency policies.
"The senators' legislation will establish a more constructive framework to address currency imbalances that harm the U.S. economy," the senators' statement said. "The bill will also address congressional concerns regarding trade enforcement, by focusing efforts to prioritize and respond to the most significant export barriers."
Source: REUTERS
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