After a weeklong trip to China, two US senators who have been pushing Chinese leaders to devalue their nation's currency say they do not agree on how much progress Beijing is making. The split indicates that they are less likely to press for a Senate vote on their trade bill this week.
Democratic Senator Charles Schumer and Republican Senator Lindsey Graham have introduced legislation that would impose a 27.5 percent tariff on all US imports from China in two years unless officials in Beijing allowed "substantial" appreciation in the exchange value of the yuan.
After a week of meetings with high-ranking officials in Beijing, Shanghai and Hong Kong, Schumer and Graham both said in an interview on Saturday that they remained committed to advancing the legislation unless China allowed the yuan to move higher against the greenback.
But they also said that Schumer had been more impressed than Graham by promises from Chinese officials to liberalize their currency policies.
Asked whether the newest development from the trip was the emergence of some differences between the two men, Schumer replied: "That would be fair."
He said that his views on China's trade and monetary policy had evolved as a result of the trip, and that he believed that the Chinese were taking steps to let the market determine their currency's value.
Graham took the same stance he had before.
"The status quo is devastating to industries back home," he said.
Each said that he had not made a final decision on whether to follow through on the previous threat to force a Senate vote by Friday.
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