Excerpt: The Senate will try to pass legislation in coming weeks aimed at forcing China to stop holding its currency below market value, Senate Democratic Leader Harry Reid said on Tuesday…. Earlier on Tuesday, Representative Kevin Brady, who chairs the House Ways and Means subcommittee on trade, said it would be wrong to “punish” U.S. consumers for China’s currency practices by slapping duties on Chinese goods. He said lawmakers “made a mistake” in the past by focusing exclusively on exchange rate concerns when there were so many other challenges in the U.S.-China trade relationship. “China’s currency is a perennial problem and a high priority but it is not the only challenge facing us,” Brady said in a speech to the business group USA Engage. The House Ways and Means Committee plans a hearing in “early fall” on China trade concerns, Brady
said.
http://www.reuters.com/article/2011/09/13/us-usa-china-currency-idUSTRE78C7JU20110913
