United States House of representatives passed the exchange rate reforms promote fair trading act

29-United States House of representatives to vote than 79 348 results through the exchange rate reforms promote fair trade Act, the purpose of the so-called underestimated national currency to impose special tariffs. This approach is thought to be the recent warming of United States trade protectionism.

The Bill in May last year by the United States Democratic Party Congressman Tim · Ryan, etc, try to modify the United States trade laws to give the United States Department of Commerce, greater rights to under certain conditions the underestimation of the so-called "currency" as export subsidies, and thus to the associated countries to the United States trade levy countervailing duties. Participation by the members of this Act, the Chinese Yuan against the dollar, causing a serious underestimation of United States trade deficit, affecting employment and economic recovery in the United States.

According to the United States in the legislative process, the House of representatives Bill will be submitted to the Senate for consideration. Act as in the Senate also approved, will be submitted to the President to sign, then it becomes law. Analysts believe that, in view of the Congressional midterm elections, the Senate election is not clear that the Bill in November before the mid-term election was passed in the Senate.

In a sluggish economic recovery, high unemployment and Congressional midterm elections political pressure, the United States recently trade protectionist actions further warming.

Analysts believe that the US dollar bill would undermine the development of Sino-US trade relations, the impact of world economic recovery. The International Monetary Fund Chief Kaan 28, said that the current global economic uncertainty, requires States to coordinate cooperation. If countries want to national interests, the only negative about the global economy.

Chinese Premier Wen Jiabao 22, in New York and the United States enterprises, financial and academic discussion that caused the US trade deficit is not the main cause of the RMB exchange rate, but in two countries, the structure of the investment and trade. Only be considered as a whole, taking comprehensive measures, this issue can be resolved gradually.

Chinese Foreign Ministry spokesman spokeswoman, made 28, said China has said on many occasions that the RMB exchange rate's principled stand on the issue. Maintenance of Sino-US trade relations in a healthy and stable development in the common interest. "We urge the United States will the Member will have a clear understanding of the importance of Sino-US trade relations, not an excuse to engage in protectionism, may harm the overall situation of Sino-US trade cooperation. ”