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Senate postpones final vote on China currency

October 7, 2011 • Business, National News


House Speaker John Boehner of Ohio, left, accompanied by House Majority Leader Eric Cantor of Va., center, and House Majority Whip Kevin McCarthy of Calif., takes part in a news conference on Capitol Hill in Washington, Tuesday, Oct. 4, 2011, to discuss China currency. (AP Photo/J. Scott Applewhite)

WASHINGTON (AP) — WASHINGTON (AP) — A Senate vote to impose sanctions on China for its unfair currency practices was put off Thursday, delayed by the partisan divisions that have come to characterize this Congress.

The bill, which makes it easier to raise tariffs against Chinese goods if China keeps its currency undervalued, is now set for a likely vote Tuesday, when it is expected to pass with bipartisan support.

But partisanship ruled the day Thursday when Senate Majority Leader Harry Reid, D-Nev., and Republican leader Mitch McConnell couldn’t agree on what amendments would be allowed, and Democrats used their majority powers to push through a rule change that restricts the offering of non-relevant amendments to legislation.

The China currency legislation, years in the making, reflects frustration at the failures by the Obama administrations and past presidents to change Chinese policy through diplomacy, and the Chinese economic onslaught that saw the trade deficit with China hit $273 billion last year.

It is aimed at the practice of keeping the yuan, the Chinese currency, undervalued against the dollar, making Chinese exports cheaper and U.S. Login to read more

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