US action, not talk, needed on China yuan - Schumer

WASHINGTON, April 7 | Wed Apr 7, 2010 12:57pm EDT

WASHINGTON, April 7 (Reuters) - The United States needs to take strong action to persuade China to raise the value of its currency, a top Democratic senator said on Wednesday.

Senator Charles Schumer issued the statement in response to news that U.S. Treasury Secretary Timothy Geithner will hold talks on Thursday with Chinese Vice Premier Wang Qishan.

The impromptu visit comes at the end of Geithner's trip to India and just days after he decided to delay a April 15 report on whether China or any other country is manipulating its currency for an unfair trade advantage.

"Every administration has thought it could get something done by talking to China. But years of experience have shown that the Chinese will not be moved by words; they only respond to tough action," Schumer said in a statement.

Schumer has sponsored a bill threatening China with tariffs on some of its exports to the United States if Beijing does not allow the yuan to rise significantly in value.

(Reporting by Doug Palmer; Editing by Chizu Nomiyama)

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