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Key China currency vote hits snag in U.S. Senate
U.S. legislation designed to get China to revalue its currency hit a snag on Thursday as the Democratic leader of the Senate said wavering support from the Republicans could force lawmakers to drop the bill. The bill calling for U.S. tariffs on imports from countries with deliberately undervalued currencies had gained support from many lawmakers alarmed at high unemployment ahead of 2012 elections. But it has drawn warnings from Beijing that it could trigger a trade war, and the White House voiced concern the measure might go against international trade rules. Senate Majority Leader Harry Reid said he was worried ... (full story)
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