|
Clinton, Obama support getting tough on China |
|
By Ian Swanson
|
|
Posted: 07/06/07 02:09 PM [ET] |
|
Democratic presidential candidates Sens. Hillary Rodham Clinton (N.Y.) and Barack Obama (Ill.) have both signed on as cosponsors of a Senate bill that could punish China for manipulating its currency for a trade advantage. The endorsements suggest both candidates might take a tougher line on China trade policies than the current administration. Clinton and Obama signed on to legislation unveiled last month by Senate Finance Committee leaders as well as Sens. Charles Schumer (D-N.Y.) and Lindsey Graham (R-S.C.). The bill would allow higher anti-dumping duties to be imposed on imports from China or any other country found to have a misaligned currency.Senate Finance Committee Chairman Max Baucus (D-Mont.) has said his committee could mark up the legislation this month. A rival China currency bill has been floated by another Democratic presidential candidate, Sen. Chris Dodd (Conn.), the chairman of the Senate Banking Committee. Treasury Department reports on currency manipulation fall under the jurisdiction of Dodd’s committee, although trade laws are under Finance’s jurisdiction. Aside from the original sponsors of the Finance bill, Clinton and Obama are the only additional senators who have signed on to the legislation, which was introduced on June 13. The Dodd bill, cosponsored by Banking Committee ranking member Sen. Richard Shelby (R-Ala.), has eight cosponsors so far. |
