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March 24th 2006

US Senators visit China to discuss Yuan

Earlier this week, US Senators Charles Schumer and Lindsey Graham concluded a trip to China, during which they met with top-level Chinese officials to discuss economic issues. The most important item on their agenda, naturally, was to press China to further revalue the Yuan. In less than a week, in fact, the Senate is set to vote on whether Schumer’s bill, which calls for a 27.5% tariff to be levied on all Chinese imports, should be advanced. Evidently, Senators Schumer and Graham left the talks satisfied, indicating that the Yuan should likely break through a level of psychological importance in the near future. The China Daily reports:

Premier Wen Jiabao said eight days ago that the range for the yuan’s fluctuation would be widen. But there will not be a one-off revaluation like the one in July, he said.

Read More: US must grasp reality of China forex policy

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Posted by Adam Kritzer | in Chinese Yuan (RMB), Politics & Policy | 1 Comment »

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One Review of “US Senators visit China to discuss Yuan”

  1. China Law Blog Says:

    I only hope that the United States avoids the protectionist path with China and realizes change is happening there, albeit slowly.

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