Obama: China Manipulates Exchange Rate Hurts America But Does Not Support Sanctions
Beijing time on October 7th morning, according to Reuters reported that President Obama held a White House news conference on Thursday, said China has been manipulating the RMB exchange rate to promote its exports, which hurt the United States, but he did not support Congress is considering a bill that may lead to the United States sanctions against China.
Obama pointed out: "China has been very active in this area.
Trade
This is especially true in the United States, where gambling games are used to gain advantages for themselves, while other countries are at a disadvantage.
Manipulating the RMB exchange rate is an example.
He also said that it is very important for trading partners to follow the same rules, but he suggested that the Congress propose to artificially lower the value of the currency.
Exit
The commodity class has reservations with punitive tariffs. "I do not want us to pass a symbolic bill, we need to know that the bill may not get the support of the WTO."
This bill, which may lead to US sanctions against China, was drafted by Democratic Senator Shu Mo (Charles Schumer) and was barely approved in a procedural vote on Thursday morning. The official vote is expected to be held later on Thursday (7 hours in Beijing time).
Even if it is approved, the proposal will still be strong in the house of Representatives.
Opposition
。
Obama said: "my main concern is that I have expressed to Senator Schumer that no matter what legal instruments we pass, we must ensure that these tools can actually work and ensure that they do not violate the international agreements and obligations we have signed."
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