Friday, May 27, 2005
White House Nixes New China Trade Request
Yahoo! News
The Bush administration turned down the latest request for a trade case to be brought against China over its currency system.
The announcement was made late Friday afternoon in a brief statement issued by the office of U.S. Trade Representative Rob Portman. It rejected a petition filed in April by House and Senate members asking the administration to use a provision in U.S. trade law, known as Section 301, that provides for the use of economic sanctions against unfair trade practices.
"We do not believe that a Section 301 action is appropriate or a productive way" to achieve the goal of a flexible Chinese currency system, Richard Mills, a spokesman for Portman, said in a statement.
The Bush administration turned down the latest request for a trade case to be brought against China over its currency system.
The announcement was made late Friday afternoon in a brief statement issued by the office of U.S. Trade Representative Rob Portman. It rejected a petition filed in April by House and Senate members asking the administration to use a provision in U.S. trade law, known as Section 301, that provides for the use of economic sanctions against unfair trade practices.
"We do not believe that a Section 301 action is appropriate or a productive way" to achieve the goal of a flexible Chinese currency system, Richard Mills, a spokesman for Portman, said in a statement.
