House votes to punish China for currency policy

McClatchy Newspapers -The House of Representatives voted 348 to 79 Wednesday to send a strong pre-election, bipartisan message to China: Stop manipulating your currency to keep it artificially low or the U.S. will get tough and move against you.

The vote, among the strongest ever threatening retaliation against China for its currency policy — which benefits Chinese exporters and burdens U.S. producers — was intended largely as a political stand that lawmakers in hard-hit economic areas could trumpet back home before the Nov. 2 congressional elections.

However, experts warned, Congress also could look to the outside world like it's willing to risk triggering a trade war that could badly wound an already weakened U.S. economy. Read more.


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