Wednesday 13 June 2007

US senators to unveil bill targeting China

US senators were set to introduce legislation that would for the first time send exchange-rate disputes between nations to the World Trade Organisation.

China's weak currency is the most immediate target of the legislation, which would create new tools for the Bush administration to challenge alleged currency manipulation.

The legislation would stretch the limits of the WTO's mandate and challenge the international trade body to redefine its powers.