Schumer-Graham bill to impose punitive tariff on China stalls out

Sep 29, 2006 | 06:22 PM | Rory Carroll

There will be no vote on a bill that seeks to enact a 27.5-percent tariff on all imports from China, key lawmakers said Wednesday.

The bill, sponsored by Sens. Lindsay Graham (R., S.C.) and Charles Schumer (D., N.Y.), was seen by most as a symbolic expression of increasing frustration on the part of U.S. manufacturers over China's pegged currency. Many see the yuan's fixed value to the dollar as a subsidy on Chinese products coming into the United States. They argue that the yuan is undervalued by....

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