Mention the new U.S. Senate bill aimed against China's exchange rate.

<P>: Http://finance. News, the economic relationship between China and the U.S. face a major impact yesterday, the U.S. Congress proposed a bill to force the Bush administration's major initiatives aimed at comprehensive trade with China confrontation. .</ P> <P> proposed by the U.S. Senate, the bill, the exchange rate as an unfair trade subsidies, the exchange rate will resort to the World Trade Organization dispute (WTO). .This increased the White House and U.S. Congress on the issue of the best strategy differences with China. .</ P> <P> The bipartisan bill would require the Treasury and Federal Reserve Board (Fed) and other central banks to cooperate on the exchange rate has "deviated from fundamentals" of the foreign exchange market intervention. .</ P> <P> most immediate goal of this bill is China's weak yuan. .However, the U.S. intervention in international currency exchange rates and the enormous policy changes, could trigger turmoil in global financial markets. .</ P> <P> this bill in Congress in the United States won the strong political support, the aim is to export goods to China open the door to punitive tariffs. .</ P> <P> U.S. lawmakers that China's fixed exchange rate system for China's exports subsidies, resulting in annual U.S. trade deficit with China reached a record 233 billion U.S. dollars. .</ P> <P> the Bush administration denied the need for a new bill yesterday, saying the U.S. government will focus on Treasury Secretary Hank Paulson • (Hank Paulson) under the leadership of the Strategic Economic Dialogue with China. .</ P> <P> official said: "The U.S. Treasury Department still believes that China's exchange rate reform to accelerate the most effective way is through active dialogue, as we have already started (Strategic Economic Dialogue )。"</ P> < .P> the bill by the Senate Finance Committee (Senate finance committee) the main Ximakesi • Max Baucus (Max Baucus) proposed, because the U.S. Treasury's semi-annual report submitted to Congress not to label China a "currency manipulator .. " .</ P> <P> The bill also has been a senior Republican members of the Senate Finance Committee • Charles Grassley (Charles Grassley) support. .In addition, Charles has been • Schumer (Charles Schumer) and Lindsey • Graham (Lindsey Graham) support - The two senators had previously proposed legislation that would require the U.S. government unilaterally breach of WTO rules on exports to China .27.5% of the tariff. .</ P>.