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.
also see stories:
China pledges to toughen measures against fake goods
US official warns China on protectionist policies
Japan has deployed long-range missiles in a southwestern region near China, the Japanese defense minister said yesterday, at a time when ties with Beijing are at their lowest in recent years. The missiles were installed in Kumamoto in the southern region of Kyushu, as Japan is attempting to shore up its military capacity as China steps up naval activity in the East China Sea. “Standoff defense capabilities enable us to counter the threat of enemy forces attempting to invade our country ... while ensuring the safety of our personnel,” Japanese Minister of Defense Shinjiro Koizumi said. “This is an extremely important initiative for
MORE POPULAR: Taiwan Pass sales increased by 59 percent during the first quarter compared with the same period last year, the Tourism Administration said The Tourism Administration yesterday said that it has streamlined the Taiwan Pass, with two versions available for purchase beginning today. The tourism agency has made the pass available to international tourists since 2024, allowing them to access the high-speed rail, Taiwan Railway Corp services, four MRT systems and four Taiwan Tourist Shuttles. Previously, five types of Taiwan Pass were available, but some tourists have said that the offerings were too complicated. The agency said only two types of Taiwan Pass would be available, starting from a three-day pass with the high-speed rail and a three-day pass with Taiwan Railway Corp. The former costs NT$2,800
POLLS CONCERNS: There are concerns within the KMT that a Cheng Li-wun-Xi Jinping meeting could trigger a voter backlash in elections in November Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) accepted an invitation from Chinese President Xi Jinping (習近平) to visit next month, her party and Chinese state media reported yesterday. Cheng, who took up her role in November last year, “gladly accepted” the invitation to lead a delegation to China, the KMT said in a statement, confirming a Xinhua news agency report. Cheng “looks forward to joint efforts by both parties to advance the peaceful development of cross-strait relations, promote cross-strait exchanges and cooperation, and work for peace in the Taiwan Strait and greater well-being for people on both sides,” the statement said. Chinese
SIGNIFICANT TO THE WORLD: The delegation’s visit aims to send a clear message that bipartisan support for Taiwan is consistent, US Senator Jeanne Shaheen said The US Senate’s bipartisan support for Taiwan remains strong and Taiwan-US ties would continue for decades to come, a US Senate delegation said in Taipei yesterday, while calling on the legislature to swiftly pass a special defense budget bill. A US delegation led by Democratic US Senator Jeanne Shaheen and Republican US Senator John Curtis — both members of the US Senate Committee on Foreign Relations — arrived in Taiwan yesterday for a two-day visit. The other senators of the delegation included Senate Taiwan Caucus cochair Thom Tillis and Senate Committee on Armed Services senior member Jacky Rosen. Shaheen told a news
RSS