China’s Yuan News Doesn’t Deter US Lawmakers From Tariff Bill

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China’s Yuan News Doesn’t Deter US Lawmakers From Tariff Bill

Wall Street Journal – WASHINGTON (Dow Jones)–Congressional Democrats were decidedly cool on China's announcement Saturday that it will allow its currency to gradually rise against the U.S. dollar, with several saying it was only a first step by the Asian country in normalizing its economic relations with the global community.

Both Sens. Sherrod Brown (D., Ohio) and Charles Schumer (D., N.Y.) pledged to continue to pursue legislative action to force the Obama administration to take steps to counter what the lawmakers believe is a deliberate policy to keep the value of the yuan low to boost Chinese exports.

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