The Trade Friction Between The U.s. And China Is Heating Up
Sino-US disputes on the RMB exchange rate have existed for a long time
, and especially in recent days, the issues are intensive, high-ranking officials and members of the United States are putting more pressure on the RMB exchange rate policy. September 24, the U.S. House of Representatives Ways and Means Committee voted to the so-called undervalued a currency exchange rate of the national bill to impose special tariffs. Experts say the so-called special tariff bill, in fact just a game in American politics. With midterm elections approaching, the United States or a more hard-line on the behavior of China, intellectual property issues are likely to become the RMB exchange rate, the U.S. pressure on China is another issue. Special tariffs anticipate a tremendous impact legislation RMB exchange rate has hit a new high for several days, even so, it is still difficult to alleviate the pressure from the United States. September 24, the U.S. House of Representatives Ways and Means Committee voted to the so-called undervalued a currency exchange rate of the special tariffs collected by the state bill. The bill is expected early this week in the House of Representatives vote on the hospital. According to the U.S. legislative process, if the House vote, the Senate bill will go into the legislative process. Research Center of China International Monetary Sun Huayu In an interview, "Economic Information Daily," an interview said that at present, the bill has been supported 143 House of Representatives, but there are 435 members in the House of Representatives passed, the bill shall be subject to more than half, that is at least 218 Members. Even if passed by the House of Representatives, the bill eventually force needed by the Senate, the President's approval process. "But if not this week, to vote, to be sure, in the mid-term elections on November 2, the United States will not carry out legislative work on this issue." Sun Huayu said, "Given that China is the third largest import market, and is the fastest growing import market, if China 'eye for an eye in its governance body of people', the U.S. will be hurt, I believe that U.S. political leaders would be sensible to address this draft. The final draft legislation into law is unlikely. " Foreign Trade University, Research Institute of China WTO Tu Xinquan In an interview, "Economic Information Daily," an interview, said the bill passed the House more likely, however, is likely blocked in the Senate. Tu Xinquan that, in general, the U.S. House of Representatives more obvious tendency of trade protection, the bill against China in the past mostly from the House, so special tariff bill in the House of Representatives passed a great possibility. However, the Senate passed that hurdle is expected to be difficult. Tu Xinquan analysis is that the WTO rules from the legal point of view, to pass the bill, the U.S. needs to prove that China specifically for the purpose of expansion of exports leaving the exchange rate undervalued. This involves China's undervalued exchange rate to determine how to make the other hand, involves how to prove that China's undervalued exchange rate is to increase export purposes. The proof of these two areas are difficult to achieve, which is also very clear that the Obama administration, so many times before do not want to recognize China as a "currency manipulator." International Relations, Renmin University of China Jin is also on the "Economic Information Daily", told reporters that even if the U.S. Senate pass the bill, Obama will be trade-offs are not expected to sign. Because once signed the bill, the Sino-US trade war will break out, no good for America. In fact, opposition from the United States either. United States dozens of business organizations from 14 agriculture and urged Congress not to adopt a joint Chinese yuan exchange rate against a bill to impose special tariffs. Including the US-China business Council, American Soybean Association and the American Meat Institute trade group, including 36 in a letter addressed to Congress, said, "We strongly oppose the use of anti-dumping or countervailing duty law to deal with annoyance for a few years monetary issues ", the RMB exchange rate proposal would" make America's commitment to the violation of WTO rules. " Ministry of Commerce, international trade and Economic Cooperation, said Mei Xinyu, researcher at the Institute, even though the chances of passage of the bill in particular is very low, the Chinese also have to plan ahead, prepare for the worst. China is ready to be the appropriate response measures to reduce the bill is passed once may impact on Chinese exports. 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