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U.S. House Democrat Plans Yuan Bill

U.S. House Democrat, Sander Levin of Michigan, is looking to establish a legislation targeting China’s management of its currency.

U.S. House Democrat, Sander Levin of Michigan, is looking to establish a legislation targeting China’s management of its currency, The Wall Street Journal reports. The Republican is seeking to introduce a bill that replicates a measure passed with support by the House in September 2010.

The bill will enable countervailing duties to be assessed against countries that undervalue their currency. A group of senators, including Charles Schumer, is planning to introduce legislation putting greater pressure on the Treasury to name countries with artificial exchange-rate policies.

Click here for the story from The Wall Street Journal.

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