The Senate, seizing on the argument that the American jobs crisis is partly China’s fault, voted Monday to move forward with tough trade legislation that would impose tariffs on some Chinese goods to punish Beijing for keeping its currency artificially depressed. The bill, which faces an uphill battle from both the Republican-controlled House and a reluctant White House, would require the Treasury Department to determine whether China is manipulating its currency, and then order the Commerce Department to impose retaliatory tariffs on certain Chinese goods.

Source: New York Times

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