WASHINGTON, March 24 (PTI): Asserting that currency manipulation gives unfair advantage to China in global trade, two top US Senators today said that they would seek a vote by May on a legislation that would push Beijing for currency correction.
Senator Charles Schumer and Lindsey Graham said they believed the only way to get China change the value of its currency is through pressure. The two Senators are co-sponsors of a legislation in the Senate in this regard.
"If we continue to let the Chinese just manipulate currency, unfairly export, keep out our imports, even of our best products, it's going to hurt America in ways from which we may never recover," Schumer told reporters. "We intend to move that legislation quickly. We're figuring out the best vehicle. We believe it will pass in a bipartisan way overwhelmingly."