Lawmakers Press Bush for China Currency Probe
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U.S. lawmakers have resurrected a petition seeking a formal investigation of China's currency policy, in a challenge of the Bush administration's handling of trade relations with Beijing.
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A group of industry, farm and labor groups, seeking to put pressure on the Bush administration before the presidential election, petitioned the government on Thursday to file an unfair trade practices case against China.
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The Bush administration lobbied Chinese economic officials on Thursday to overhaul a currency regime that American manufacturers contend gives China a huge competitive advantage.
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The gesture comes as the Bush administration is weighing whether to sponsor a resolution criticizing China's human rights record at a U.N. meeting next month.
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U.S. lawmakers stepped up pressure on China to boost the value of its currency as high-level talks aimed at persuading the country to quicken economic reforms moved toward a conclusion on Friday.
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Treasury Secretary Henry Paulson on Friday tried to wave off U.S. lawmakers' bid to tighten the screws on China over its currency policy by warning that it could make it harder to settle turbulent markets.
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WASHINGTON - The Bush administration said Friday that neither China nor any other major trading partner of the United States is violating a US law against currency manipulation to gain unfair trade advantages.
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Four U.S. senators unveiled a long-awaited bill on Wednesday aimed at forcing China to more quickly raise the value of its currency by giving the U.S. Treasury Department new tools to pressure Beijing.
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US lawmakers asked the Securities and Exchange Commission on Thursday to investigate recent disclosures of improper mutual fund sales practices on military bases.
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WASHINGTON - The Bush administration, seeking to achieve an economic breakthrough in the closing weeks of an election campaign, says China has made a serious commitment to overhauling a currency system that American manufacturers see as a major culprit in the soaring U.S. trade deficit...
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The Bush administration, facing huge and politically sensitive trade deficits, secured China's pledge Friday to work harder to move its currency toward a flexible exchange rate, which would make U.S goods more competitive abroad.
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US President George W. Bush's administration rejected a call by US lawmakers to take China to the World Trade Organization for &quot;currency manipulation.&quot;
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U.S. Treasury Secretary Henry Paulson urged China on Thursday to make its currency more flexible as a prelude to a freely floating exchange rate in the medium term.
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Global finance chiefs sought a way  on Friday to put pressure on China to let its currency rise in  value to ease global trade imbalances and also aimed to craft a  message to soothe turbulent financial markets.
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WASHINGTON -- The Bush administration, under pressure from a Democratic-controlled Congress to do something about America's soaring trade deficit, filed a trade case Friday against China in a dispute involving government subsidies.
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U.S. President George W. Bush said on Wednesday China could help reduce trade imbalances by floating its currency, and a White House aide said Bush may discuss the thorny issue in a meeting with Chinese President Hu Jintao.
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China turned the tables on the United States, urging Washington to take "necessary actions" to stop the slide of the dollar and restore equilibrium to global currency markets, a senior Chinese official said.