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<p class=MsoNormal><st1:country-region w:st="on"><b><font size=4 color=navy
face="Trebuchet MS"><span style='font-size:14.0pt;font-family:"Trebuchet MS";
color:navy;font-weight:bold'>U.S.</span></font></b></st1:country-region><b><font
size=4 color=navy face="Trebuchet MS"><span style='font-size:14.0pt;font-family:
"Trebuchet MS";color:navy;font-weight:bold'> senators vow speedy push on <st1:place
w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>
currency bill<o:p></o:p></span></font></b></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Doug Palmer on
Tue Mar 23, 2010<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>http://www.reuters.com/article/idUSN239690720100323?type=usDollarRpt<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'> WASHINGTON
(Reuters) - Two U.S. senators vowed on Tuesday to push for action on a bill aimed
at pressuring <st1:country-region w:st="on">China</st1:country-region> to
strengthen its currency on the eve of a senior Chinese official's visit to <st1:place
w:st="on"><st1:State w:st="on">Washington</st1:State></st1:place> to smooth
differences.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Arguing that <st1:country-region
w:st="on">China</st1:country-region>'s exchange rate policies cost American
jobs, the lawmakers said such pressure was necessary to make <st1:place w:st="on"><st1:country-region
w:st="on">China</st1:country-region></st1:place> move.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>"My belief
is that China will not do anything unless they're required to, and every day we
wait is a day we lose wealth, we lose economic advantage, we lose jobs,"
said Senator Charles Schumer, a New York Democrat.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><st1:country-region w:st="on"><font size=2 color=navy
face="Trebuchet MS"><span style='font-size:10.0pt;font-family:"Trebuchet MS";
color:navy'>China</span></font></st1:country-region><font size=2 color=navy
face="Trebuchet MS"><span style='font-size:10.0pt;font-family:"Trebuchet MS";
color:navy'> and the <st1:country-region w:st="on">United States</st1:country-region>
have locked horns over Google Corp's decision to defy Chinese Internet
censorship, <st1:country-region w:st="on">U.S.</st1:country-region> weapons
sales to <st1:country-region w:st="on">Taiwan</st1:country-region>, <st1:country-region
w:st="on">Tibet</st1:country-region> and sanctions against <st1:place w:st="on"><st1:country-region
w:st="on">Iran</st1:country-region></st1:place>'s nuclear program.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Schumer told
reporters on conference call that he and Senator Lindsey Graham, a South Carolina
Republican, would push for a vote on the bill by the end of May. The measure
would allow <st1:country-region w:st="on">U.S.</st1:country-region> companies
to seek duties on Chinese goods to offset <st1:place w:st="on"><st1:country-region
w:st="on">China</st1:country-region></st1:place>'s currency policies.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>"If we took
the currency issue off the table, we would be more competitive in every
sector," added Graham.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>They would put
forth the controversial legislation regardless of whether President Barack
Obama's administration decides to formally label China a currency manipulator
in a Treasury Department report due on April 15, said Schumer.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>"We intend
to move that legislation quickly," he said. "We believe it will pass
in a bipartisan way, overwhelmingly."<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><st1:country-region w:st="on"><font size=2 color=navy
face="Trebuchet MS"><span style='font-size:10.0pt;font-family:"Trebuchet MS";
color:navy'>China</span></font></st1:country-region><font size=2 color=navy
face="Trebuchet MS"><span style='font-size:10.0pt;font-family:"Trebuchet MS";
color:navy'> has denied it is manipulating its currency and warned it will
retaliate if its goods are hit with <st1:place w:st="on"><st1:country-region
w:st="on">U.S.</st1:country-region></st1:place> duties.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Proponents of a
tariff to press <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>
to raise the value of its currency in order to cut its surpluses will testify
at a <st1:Street w:st="on"><st1:address w:st="on">House of Representatives Way</st1:address></st1:Street>
and Means Committee hearing on Wednesday.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><st1:City w:st="on"><font size=2 color=navy
face="Trebuchet MS"><span style='font-size:10.0pt;font-family:"Trebuchet MS";
color:navy'>Beijing</span></font></st1:City><font size=2 color=navy
face="Trebuchet MS"><span style='font-size:10.0pt;font-family:"Trebuchet MS";
color:navy'> is sending Chinese Vice Commerce Minister Zhong Shan to <st1:place
w:st="on"><st1:State w:st="on">Washington</st1:State></st1:place> this week for
talks at the U.S. Treasury Department, Commerce Department and the Trade
Representative's office.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Zhong, who
Chinese sources have said is not a trade negotiator, is expected to sound out
the Obama administration's views on escalating tensions between the world's
largest and third largest economies.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>HIGH-LEVEL TALKS
IN MAY<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>The Chinese
official could also discuss plans to hold the second annual U.S.-China
Strategic and Economic Dialogue in <st1:place w:st="on"><st1:City w:st="on">Beijing</st1:City></st1:place>.
The high-level meeting expected to be held in late May, a U.S. Treasury
Department spokeswoman said.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Chinese Premier
Wen Jiabao said on Monday he hoped the May meeting will be "very
important" for defusing strains between the two nations.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>The dialogue will
be co-chaired on the <st1:place w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place>
side by Treasury Secretary Timothy Geithner and Secretary of State Hillary
Clinton. The Chinese side was led last year by State Councilor Dai Bingguo and
Vice Premier Wang Qishan.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>A report on
Tuesday by the left-leaning Economic Policy Institute said <st1:country-region
w:st="on">China</st1:country-region>'s "currency manipulation" and
other trade policies caused the loss of as many as 2.4 million <st1:place
w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place>
jobs between 2001 and 2008.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>"Unless <st1:country-region
w:st="on">China</st1:country-region> raises the real value of the yuan by at
least 40 percent and eliminates other trade distortions, the <st1:place w:st="on"><st1:country-region
w:st="on">U.S.</st1:country-region></st1:place> trade deficit and job losses
will continue to grow rapidly," Robert E. Scott, an EPI economist and
author of the report, said in a statement.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Analysts say <st1:place
w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>
prefers closed-door, high-level talks to the public sparring over Google Inc
(GOOG.O) and currency that has dominated headlines for much of 2010.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Google on Monday
began rerouting searches to its Hong Kong site, drawing angry criticism from
China, following through on an announcement in January that it might quit China
over Internet censorship and after a sophisticated hacking attack that it said
came from within China.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><st1:place w:st="on"><st1:country-region w:st="on"><font
size=2 color=navy face="Trebuchet MS"><span style='font-size:10.0pt;
font-family:"Trebuchet MS";color:navy'>China</span></font></st1:country-region></st1:place><font
size=2 color=navy face="Trebuchet MS"><span style='font-size:10.0pt;font-family:
"Trebuchet MS";color:navy'> denies being the source of the cyber attack.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>State Department
spokesman P.J. Crowley told reporters that Google's move was "a business
decision" in which <st1:place w:st="on"><st1:State w:st="on">Washington</st1:State></st1:place>
played no part.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>But he said the
Obama administration would continue pressing <st1:place w:st="on"><st1:country-region
w:st="on">China</st1:country-region></st1:place> on Internet and information
freedom.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>"We value
the economic relationship between the <st1:country-region w:st="on">United
States</st1:country-region> and <st1:country-region w:st="on">China</st1:country-region>,"
said <st1:place w:st="on"><st1:City w:st="on">Crowley</st1:City></st1:place>.
"That said, I think were I China, I would seriously consider the
implications when one of the world's most recognizable institutions has decided
that it's too difficult to do business in China."<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>The <st1:country-region
w:st="on">U.S.</st1:country-region> trade deficit with <st1:place w:st="on"><st1:country-region
w:st="on">China</st1:country-region></st1:place> grew from $83 billion in 2001
to a record $268 billion in 2008 before falling to $226 million in 2009
alongside a collapse in world trade.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Last week, 130
members of the U.S. House of Representatives urged Obama to formally label
China a currency manipulator in the April 15 Treasury Department report on
foreign exchange practices of major U.S. trade partners.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>(Writing by Paul
Eckert; Additional reporting by Tabassum Zakaria; Editing by Kenneth Barry)<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>---------------------------------------<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'>Andrew Gussert<br>
Director, Citizens Trade Campaign<br>
<st1:Street w:st="on"><st1:address w:st="on">1150 17th Street N.W.,
Suite 300</st1:address></st1:Street><br>
<st1:place w:st="on"><st1:City w:st="on">Washington</st1:City>, <st1:State
w:st="on">D.C.</st1:State></st1:place> 20036</span></font><font
color=navy><span style='color:navy'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=navy face="Times New Roman"><span
style='font-size:12.0pt;color:navy'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=gray face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:gray'>Cell#:
202.494.8826<br>
Fax#: 202.293.5308<br>
</span></font><font size=2 color=navy face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:navy'><a
href="http://www.citizenstrade.org"><font color=gray><span style='color:gray'>www.citizenstrade.org</span></font></a></span></font><font
color=navy><span style='color:navy'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=gray face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:gray'>skype/agussert</span></font><font
color=navy><span style='color:navy'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=gray face="Trebuchet MS"><span
style='font-size:10.0pt;font-family:"Trebuchet MS";color:gray'>facebook/gussert<br>
twitter/agussert</span></font><font color=navy><span style='color:navy'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=navy face="Times New Roman"><span
style='font-size:12.0pt;color:navy'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=gray face="Times New Roman"><span
style='font-size:12.0pt;color:gray'>To receive regular trade updates, </span></font><font
color=navy><span style='color:navy'><a
href="http://www.citizenstrade.org/mailman/listinfo/ctcfield"><font color=gray><span
style='color:gray'>click here.</span></font></a><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
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