- WASHINGTON: The White House said it continues to review a proposed Senate bill on China’s currency to ensure it is “effective and consistent with our international obligations.”
“We are reviewing the bill,” White House spokesman Jay Carney said.
“We share the goal it represents.”
The Currency Exchange Rate Oversight Reform Act of 2011 would instruct the Commerce Department to investigate whether a foreign government is subsidizing its companies by undervaluing its currency — a major complaint of US lawmakers and businesses against China.