William Reinsch News
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China isn’t a currency manipulator under U.S. law, though the yuan “remains significantly undervalued” and needs to rise further, the Treasury Department said.
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Republican presidential nominee Mitt Romney has pledged to declare China a currency manipulator on his first day in office. It may not be that easy, or have the desired effect.
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Speaker John Boehner predicts the U.S. House can renew worker aid backed by the Senate and approve three free-trade accords in the next month, as long as President Barack Obama sends the delayed accords first.
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Florida would be banned from approving contracts of $1 million or more with companies doing business in Cuba or Syria under legislation signed by Republican Governor Rick Scott.
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When solar-panel maker Solyndra LLC collapsed in September after winning a $535 million U.S. loan guarantee, President Barack Obama’s administration blamed China’s even bigger aid for its renewable-energy industry.
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U.S. companies that make infrared detection technology used in night-vision devices and weapons sights are fighting a Pentagon effort to impose the government’s most stringent export rules on their products.
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Legislation pressing China to raise the value of its currency is set for a vote in the U.S. House next week, as Republicans joined Democrats in expressing frustration that the yuan is appreciating too slowly.
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A proposal by President Barack Obama to reorganize U.S. trade agencies would force together departments that have different missions, something industry groups say may diminish effectiveness.
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The Obama administration, facing growing complaints in Washington that it hasn’t persuaded China to increase the value of its currency, filed two trade cases against the world’s largest exporter of goods.
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Scott Davis , chief executive officer of United Parcel Services Inc. , says a U.S. campaign season rife with blasts at China and sending jobs abroad masks what the new Congress means for global commerce: a chance to pass long- stalled agreements to remove trade restrictions.
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