Saturday, July 10, 2010

US Sen. Grassley Urges WTO Case on China Currency


A top Republican senator on Thursday criticized President Barack Obama’s administration for deciding not to label China a currency manipulator and called for a formal trade case against Beijing on the issue.

“Everyone knows China manipulates its currency. If the President continues to avoid acknowledging China’s currency manipulation and fails to address it in a meaningful way, Congress will have to act,” Senator Charles Grassley, an Iowa Republican, said in a statement.

“I reiterate my call for the administration to bring a case against China’s currency manipulation at the World Trade Organization,” he said.

Related: Treasury Won’t Cite China on Currency: Sources