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Home >> China
UPDATED: 09:09, September 29, 2006
U.S. senators delay seeking penalty tariffs against China
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Two U.S. senators announced Thursday that they would hold off seeking vote until early next year on their bill that would impose high tariffs on Chinese products.

Early next year, "we will come together and put together a tough, strong bill," Democratic Senator Charles Schumer told a press conference.

The other senator, Lindsey Graham, a Republican, said U.S. President George W. Bush met with the lawmakers Thursday, asking them to scrap this week's vote on the bill, which calls for a 27.5 percent tariff on Chinese products imported into the United States unless China revalues its currency.

Graham said Bush wanted lawmakers to give new Treasury Secretary Henry Paulson more time to persuade China to take steps to allow the yuan to strengthen against the dollar.

"The hope is to have a constructive dialogue with the Chinese where reform will move forward without legislation," Graham said.

The lawmakers said they are heartened by a new "strategic economic dialogue" between the United States and China announced during a visit to China last week by Paulson.

The delay was hailed by some U.S. business interests.

In a statement, the U.S.-China Business Council said it believes that "constructive engagement along the lines of the Strategic Economic Dialogue formed last week between U.S. and Chinese leaders is the best way to ultimately resolve this key issue."

Source: Xinhua


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