US Senators Charles Schumer and Lindsey Graham would be wise to postpone a
vote on their bill to slap tariffs on China unless it lets the yuan rise faster,
U.S. Commerce Secretary Carlos Gutierrez said Monday.
US
Commerce Secretary Carlos Gutierrez |
The
senators have not yet said whether they would press for an immediate vote on
their bill, which would impose a 27.5 percent tariff on China's exports to the
United States if Beijing does not act on the yuan.
The bill had been scheduled for a vote on March 31.
Gutierrez, who was summing up media reports of the two senators' fact-finding
trip to China last week, told Reuters: "They're probably going to give their
bill some time, which I think is the wise thing to do."
Gutierrez was in the southwestern city of Chongqing before flying to Beijing
for talks on the protection of intellectual property rights and other trade
issues.
The International Herald Tribune quoted Schumer as acknowledging differences
between himself and Graham after their trip to China.
Schumer said he believed China did want to move on the yuan.
"I'm convinced they do want to get there, which I wasn't a week ago," Schumer
told the newspaper, adding that Graham was more skeptical.
Asked whether differences had emerged between the two sponsors following the
visit, Schumer said: "That would be fair."
Schumer told reporters last week the senators had told Chinese officials they
would prefer not to enact the legislation but let the Chinese leadership come to
an agreement with the government.
The yuan rose on Monday to 8.0214 per dollar, its highest level against the
U.S. currency since it was revalued in July last year by 2.1 percent to 8.11.