US Treasury Secretary John Snow said on June 23 any action trying to impose trade sanction against China would also harm the US economy.

In prepared testimony to the Finance Committee of the US Senate, Snow was referring to some people in the US Congress who proposed bills which would impose trade sanctions on Chinese imports to press China to revaluate its currency.

Snow said these proposals, if enacted, would not only harm the US economy, but would also delay any action by the Chinese government to loosen its currency peg.

"I cannot overstate my firm believe that resorting to isolationist trade policies would be ineffective, disruptive to markets and damaging to America's special role as the world's leading advocate for open markets and fair trade," he said.

He also urged China to introduce a more flexible currency system and open its economy to more imports in order to head off a dangerous wave of trade protectionism.

Source: Xinhua