House Bill Targets China On Undervalued Currency
Congress for the second time in two days gave notice yesterday to both China and the Bush administration that it will take action if nothing is done about undervalued Chinese currency, which gives Chinese goods an advantage over U.S. competition.
"We are playing by the rules. We think the Chinese government is cheating," Rep. Timothy J. Ryan (D-Ohio) said in promoting a bill that defines exchange-rate manipulation as a prohibited export subsidy and sets guidelines for U.S. agencies to sanction China and protect U.S. industries.
 
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Ryan was joined in sponsoring the bill by Rep. Duncan Hunter (R-Calif.), chairman of the House Armed Services Committee. Hunter expressed concern that China is using the billions of dollars amassed from currency manipulation to buy advanced weaponry from Russia and other countries.
The bill also outlines steps to protect the U.S. defense industry from what is termed unfair Chinese competition.
On Wednesday, the Senate showed strong support for a proposal to place a 27.5 percent tariff on Chinese products if China does not revalue its currency. The amendment to a bill authorizing State Department and foreign aid programs cleared a procedural obstacle on a 67 to 33 vote, but no vote was taken on the amendment.
Taiwan Says It Will Lift 14-Month Ban on U.S. Beef
Taiwan will lift a ban on U.S. beef imposed after the discovery of mad cow disease 14 months ago in a Washington state heifer, the Agriculture Department said.
In the year before the ban, Taiwan imported more than $76 million in U.S. beef and beef products, the department said.
That amounts to about 5 percent of the biggest market for U.S. beef, Japan, which still has not resumed beef imports. Japan imported more than $1.5 billion in U.S. beef in 2003, according to the department.
Taiwan's government will allow imports of boneless beef from animals younger than 30 months, effective April 16.
Two Senators Vow to Block Nomination of EPA Chief
Two Democratic senators said they will block the nomination of Stephen L. Johnson to head the Environmental Protection Agency until the EPA cancels a program to test pesticide exposure of children in a Florida county.
Sens. Bill Nelson of Florida and Barbara Boxer of California said the testing program is unfair.
The research project, which is partially funded by the American Chemistry Council, does not require participants to buy or use any additional pesticides than what is already in their homes.
The EPA has defended its environmental exposure study as important to help the agency understand how children are exposed to pesticides common in American homes. The project plans to examine the homes of selected children in Duval County, and it will give participants a camcorder, children's clothing and a $970 payment.
-- From News Services
