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No decision yet on China bill vote: US senators

March 27, 2006

WASHINGTON (Reuters) – A pair of senators just back from a
trip to China said on Monday they hoped to talk with U.S.
Treasury Secretary John Snow before deciding whether to go
ahead with a vote on their bill threatening to punish China if
it does not revalue its yuan.

“We haven’t made any decision on this yet,” Sen. Charles
Schumer, a New York Democrat, told Reuters during a break in a
Senate Judiciary Committee legislative work session that Sen.
Lindsey Graham of South Carolina also attended.

Graham and Schumer are authors of a bill that threatens to
impose a 27.5 percent tariff on China’s exports to the United
States if it does not revalue the yuan.

They have been promised a vote on that legislation by this
Friday, under a deal worked out last year.

The two senators said they wanted to talk more about the
issue, including with Snow, before deciding whether to go ahead
with a vote this week.

The Bush administration opposes the Graham-Schumer bill and
has been pushing China through diplomatic channels to revalue
the yuan.

The Graham-Schumer bill survived an attempt to kill it in
the Senate by a vote of 67-33 last year, sending the Bush
administration a wake up call about the level of anger in
Congress about China’s currency practices.


Source: reuters



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