BEIJING Oct 4 China's foreign ministry said it
"adamantly opposes" a bill pushed by the U.S. Senate that will
allow the United States to impose duties on countries that
undervalue their currencies.
In a statement posted on China's official government website
(www.gov.cn) on Tuesday, the ministry said the United States was
"using the excuse of 'currency imbalances'" to adopt
protectionist trade measures that violated World Trade
Senators voted on Monday to open a week of debate on the
Currency Exchange Rate Oversight Reform Act of 2011, which would
allow the U.S. government to slap countervailing duties on
products from countries found to be subsidizing their exports by
undervaluing their currencies.
(Reporting by Chris Buckley and David Stanway; Editing by Ed