Senator Baucus Says Senate Poised to Act on China Currency Bill
Senator Baucus (D), Chairman of the Senate Finance Committee, delivered a speech in Beijing on October 13, 2010 before the U.S.-China Business Council and the American Chamber of Commerce in which he discussed the recent passage by the House of legislation designed to correct the China currency imbalance (H.R. 2378) and noted that the Senate is poised to follow suit.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
In addition, Senator Baucus stated that the U.S. is not alone in its desire for change and that the European Union, India, and Thailand have all called on China to appreciate its currency and the World Bank President has recently stated that China’s currency is undervalued.