News Manufacturing & Economy China Currency Peg Won't Spur Higher Import Duties by Obama Administration
China Currency Peg Won't Spur Higher Import Duties by Obama Administration
Wednesday, 01 September 2010 11:37
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The Obama administration rejected a plea from U.S. manufacturers to increase duties on imports from China to compensate for the effects of a weak yuan.

Makers of aluminum and glossy paper said an undervalued currency acts as a subsidy for Chinese producers, letting them undercut their American competitors.

Source: Bloomberg

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