China slams US bill penalising renminbi imports
The People's Bank of China (PBoC) has denounced a bill passed in the US Congress on October 11 (Tuesday) to impose anti-subsidy duties on imports seen as being unfairly state-subsidised.
Currency Exchange Rate Oversight Reform Act of 2011, a piece of legislation sponsored by the Democratic senator Sherrod Brown from Ohio, passed by a vote of 63 to 35. The bill will now go to the House of Representatives.
If the bill passes the House and is signed by president Barack Obama, anti-subsidy duties
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