Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Senate Approves Bill to Retaliate Against China on Currency Senate Approves Bill to Retaliate Against China on Currency

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Economy / ECONOMY

Senate Approves Bill to Retaliate Against China on Currency

But legislation faces indefinite purgatory without House consideration

(UPI Photo/Stephen Shaver)

photo of Kelsey Snell
October 11, 2011

The Senate briefly set aside partisan conflict on Tuesday to overwhelmingly approve legislation to retaliate against China’s undervalued currency.

The legislation to use punitive tariffs to offset damages caused by Chinese currency manipulation passed the Senate in a wide 63 to 35 vote. But the bill is now likely headed to indefinite purgatory without consideration in the House.

Many Democrats said they hoped the strong bipartisan vote would add to the growing momentum and support they have cultivated in the lower chamber. Rep. Sander Levin, D-Mich., the top Democrat on the Ways and Means Committee, capitalized on the broad support in the Senate to recruit 224 co-sponsors for a similar bill in the House.

 

But House GOP leaders haven’t given any signs they are ready to reconsider their position that such aggressive legislation could spark a trade war.

Many business leaders, economists and Republican leaders argue that using tariffs to punish China for just one element of the ongoing trade imbalance would damage U.S. business interests. Their powerful opposition could quickly grind progress on the bill to a halt.

 

Job Board
Search Jobs
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Fire Sprinkler Inspector
American Society of Civil Engineers | Charlotte, NC
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Assistant Professor - Water Resources/Ecological Engineering
American Society of Civil Engineers | Auburn, AL
Product Manager - Chemical Development and Supply - Tulsa, OK
American Society of Civil Engineers | Tulsa, OK
Commissioning Intern
American Society of Civil Engineers | Chicago, IL
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Business Development Manager
American Society of Civil Engineers
Sr. Controls Systems Engineer
American Society of Civil Engineers | Grand Island, NE
Senior Project Manager- Transportation
American Society of Civil Engineers | San Antonio, TX
Materials Engineer 2
American Society of Civil Engineers | IL
Land Surveyor
American Society of Civil Engineers
Quality Engineer
American Society of Civil Engineers | Attica, IN
 
Comments
comments powered by Disqus