Senate Takes Action Against Currency Manipulation by Foreign Governments

On Wednesday in Washington, Senators introduced new legislation to cut down on currency manipulation taking place in foreign countries such as China. The bill, entitled the "Currency Reform for Fair Trade Act," would force China to float its currency or face harsh tariffs and import duties. The legislation would also require that the US Department of Commerce monitor undervaluation of currency by foreign governments.
"China’s flagrant manipulation of its currency to gain an unfair trade advantage is an affront on American manufacturers, who have long played an integral role in the nation’s economic security and national defense,....