Breaking News

US backs down on anti-China tariffs

Posted by Jeremy Goldkorn on Friday, July 1, 2005 at 3:36 PM

Yahoo: US senators drop China tariffs bill, told revaluation coming

Excerpt:

The US administration and Federal Reserve chief Alan Greenspan believe China is set to revalue its currency, two US senators said after agreeing to shelve an anti-China tariffs bill for now.

Senators Charles Schumer and Lindsey Graham, after a meeting with Treasury Secretary John Snow and Greenspan, agreed to put off a late-July vote on their tariffs bill after being assured that a revaluation is coming.

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