Showing posts with label U.S. Senate. Show all posts
Showing posts with label U.S. Senate. Show all posts

Wednesday, October 5, 2011

U.S. and China moving toward trade war?

Hong Kong (CNN) – China says it could be on the march to a trade war with the United States. That’s after the U.S. Senate on Monday passed a key test vote that targets countries believed to keep their currencies artificially weak.

If the bill passes in the Senate – perhaps as early as this week – it would be the next step at shooting new tariffs onto exports from those countries. Looking between those Congressional crosshairs, this week’s legislation is clearly aimed at China.