Presumably China has been artificially suppressing the value of the Yuan for a while now in order to boost exports.
Many of our law-makers are determined to attempt to level the playing field, ultimately of course, yielding more US jobs.
There's a bill moving through the the house whose aim is to apply retaliatory tariffs for nations that are found to have “misaligned†currency, even if Treasury does not find monetary manipulation.
What's interesting about this issue is that congressional support seems completely non-partisan.
Obama frets that this legislation will just **** off the Chinese and ***** up on-going negotiations.
Speaker of the House Boehner(R) fears a trade war if this bill were to pass.
House Majority Leader Reid(D) sponsors the bill and is counting on law-makers from both sides of the aisle to get it passed.
Speculation is, of course, that it's all just politicking - a bit of saber-rattling to detaunt the chinese and timed to catch votes for being good pie-tenders.
How does the House Asylum vote - Yay or Nay?