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<p class=MsoNormal><font size=3 color=navy face="Times New Roman"><span
style='font-size:12.0pt;color:navy'>The Obama administration must deliver a
semi-annual currency report to the U.S. Congress that could name <st1:place
w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>
a currency manipulator. Lawmakers in Congress are pressing for stronger
action, including letting <st1:place w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place>
companies seek tariffs on Chinese imports.<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=navy face="Times New Roman"><span
style='font-size:12.0pt;color:navy'>The report, which is the task of U.S.
Treasury Secretary Timothy Geithner, was delayed from a mid-April release until
after the G20, and could now come at any time.<o:p></o:p></span></font></p>
<h1><b><font size=5 face="Times New Roman"><span style='font-size:16.0pt'>Obama:
Pressing <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>
on currency to make trade fair<o:p></o:p></span></font></b></h1>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><a
href="http://blogs.reuters.com/search/journalist.php?edition=us&n=steve.holland&"><font
color=black><span style='color:windowtext'>Steve Holland</span></font></a><font
color=navy><span style='color:navy'> -- </span></font>Credit: Reuters/Larry
Downing<font color=navy><span style='color:navy'><o:p></o:p></span></font></span></font></p>
<p><st1:City w:st="on"><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>RACINE</span></span></font></st1:City> <st1:State
w:st="on">Wisconsin</st1:State> (Reuters) - <st1:country-region w:st="on">U.S.</st1:country-region>
President Barack Obama on Wednesday maintained pressure on <st1:place w:st="on"><st1:country-region
w:st="on">China</st1:country-region></st1:place> to ensure its currency policy
did not give it an unfair export advantage.<o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>"We've
got to make sure that countries we're trading with are being fair. I believe in
free trade," Obama said at a campaign-style meeting in <st1:place w:st="on"><st1:City
w:st="on">Racine</st1:City>, <st1:State w:st="on">Wisconsin</st1:State></st1:place>.<o:p></o:p></span></font></p>
<p><font size=3 color=navy face="Times New Roman"><span style='font-size:12.0pt;
color:navy'><span id="midArticle_2">"For example, if <st1:country-region
w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> has a
currency that's undervalued, that makes our exports more expensive. It makes
their imports cheaper. So we've been putting pressure on them to say, you know
what, let's make sure that we're not favoring one side or the other in this
trade deal," he said.<o:p></o:p></span></font></p>
</span>
<p><st1:country-region w:st="on"><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><span id="midArticle_3"></span>China</span></font></st1:country-region>
has announced plans to allow its currency to be more flexible, and Obama said
at a weekend Group of 20 meeting in <st1:place w:st="on"><st1:City w:st="on">Toronto</st1:City></st1:place>
he believed the yuan would rise significantly.<o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><span
id="midArticle_4">During the summit he also announced a new push on a
long-stalled trade deal with <a href="http://www.reuters.com/places/south-korea"
title="Full coverage of South Korea"><font color=black><span style='color:windowtext'>South
Korea</span></font></a>.<o:p></o:p></span></font></p>
</span>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><span
id="midArticle_5">The <st1:place w:st="on"><st1:country-region w:st="on">United
States</st1:country-region></st1:place> argues the yuan is under-valued by up
to 40 percent against the dollar, claiming this makes its exports unfairly
competitive and effectively poaches American jobs.<o:p></o:p></span></font></p>
</span>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><span
id="midArticle_6">Trade is a delicate topic for Obama, whose Democratic Party
draws support from organized labor, which complains that trade deals with <a
href="http://www.reuters.com/places/mexico" title="Full coverage of Mexico"><font
color=black><span style='color:windowtext'>Mexico</span></font></a> and <st1:country-region
w:st="on">Canada</st1:country-region> have hurt <st1:place w:st="on"><st1:country-region
w:st="on">U.S.</st1:country-region></st1:place> workers.<o:p></o:p></span></font></p>
</span>
<p><st1:City w:st="on"><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><span id="midArticle_7"></span>Racine</span></font></st1:City>,
perched on <st1:place w:st="on">Lake Michigan</st1:place> and with unemployment
above 14 percent, typifies middle-American communities where employers have
been hit by cheap imports and the loss of jobs overseas -- a fact Obama
acknowledged.<o:p></o:p></p>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><span
id="midArticle_8">"It is absolutely true that a lot of our manufacturing
left to go to <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>
and other low-wage countries," Obama said.<o:p></o:p></span></font></p>
</span>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'><span
id="midArticle_9">Jobs, and a general wariness toward free trade agreements
with foreign countries, will be a crucial factor in <st1:country-region w:st="on">U.S.</st1:country-region>
mid-term congressional elections on November 2, when anger over still-high <st1:place
w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place>
unemployment could erode the power of Obama's Democrats.<o:p></o:p></span></font></p>
</span>
<p><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>Related
Stories:<o:p></o:p></span></font></p>
<h2><b><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt;
font-family:"Times New Roman"'><a
href="http://news.google.com/news/url?sa=t&ct2=us%2F2_0_s_1_0_t&usg=AFQjCNGxTdI_760-fnvfYKxFFppgMQxrJg&cid=17593767958942&ei=3qwsTJCYEt7cmQezuflZ&rt=MORE_COVERAGE&vm=STANDARD&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-06-30%2Fobama-says-u-s-will-keep-up-pressure-on-china-over-currency.html"
target="_self"><span id="midArticle_10"><span class=titletext><font
color=black><span style='color:windowtext'>Obama Says US Will Keep Up Pressure
on China Over Currency</span></font></span></a> <o:p></o:p></span></font></i></b></h2>
</span>
<p class=MsoNormal><span class=sourcesource-prefsid-669454><font size=3
face="Times New Roman"><span style='font-size:12.0pt'>BusinessWeek</span></font></span> -
<span class=author-link><a
href="http://news.google.com/news/search?pz=1&cf=all&ned=us&hl=en&q=author:%22Hans+Nichols%22&scoring=n"><font
color=black><span style='color:windowtext'>Hans Nichols</span></font></a></span> -
<span class=date>ý17 hours agoý</span><o:p></o:p></p>
<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>June 30 (Bloomberg) -- President Barack Obama said the <st1:country-region
w:st="on">US</st1:country-region> will keep up pressure on <st1:place w:st="on"><st1:country-region
w:st="on">China</st1:country-region></st1:place> over its currency valuation
to ensure fair trade. <b><span style='font-weight:bold'>...</span></b> <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>
<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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