WASHINGTON – The Senate has voted to stiffen enforcement against alleged currency manipulation by China and other U.S. trading partners that makes it harder for American firms to compete and leads to job loss in this country.
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The provision was included in legislation relating to enforcement of trade deals that passed on a vote of 78-20.
The action came despite a White House statement expressing opposition to the provision, which calls for imposition of tariffs on imports from countries engaging in currency manipulation.
The vote on the bill was prelude to the expected revival later in the day of a measure letting President Barack Obama negotiate future trade deals that Congress could approve or reject, but not change.