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Lawmakers push administration to get tough on China's trade practices
WASHINGTON (AP) ' House lawmakers are urging the administration to apply more pressure on what they call China's "predatory" trading practices, but show division on whether to pass legislation punishing China for manipulating its currency.
House Ways and Means Committee members presented a long list of grievances they say contribute to China's massive trade advantage, including its undervalued currency.
But committee chairman Dave Camp, a Michigan Republican, said currency should not be considered a "silver bullet" when there are so many other problems. The top Democrat on the panel, Sander Levin of Michigan, says the House should take up legislation, passed by the Senate two weeks ago, that would threaten China with higher tariffs if it continues to undervalue its currency as a way of keeping its exports cheaper.