Senate Bill Targets Yuan’s Value

Chinese officials warn measure could damage trade relations, undermine recovery.

The U.S. Senate passed a bill aimed at punishing China for keeping the yuan undervalued, triggering a backlash from Chinese officials who warned the measure risks damaging trade relations and undermining the global recovery.

The Senate voted 63-35 for the legislation, which would let U.S. companies seek duties to compensate for “misaligned” currencies. House Speaker John Boehner has called the bill “dangerous” and is resisting pressure for a vote in the Republican-controlled chamber, casting doubt on whether it will become law. China protested in three government statements.

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