BILLINGS, MT (Reuters) - Senator Max Baucus said on Tuesday that Congress will pass currency legislation aimed at easing U.S.-China trade imbalances regardless of whether the Bush administration is able to negotiate any progress on the issue.
Speaking to reporters at a jobs forum here, Baucus said he appreciated efforts by U.S. Treasury Secretary Henry Paulson to persuade Beijing to allow its yuan currency to appreciate in value, but said those efforts were not enough.
“No country out of the goodness of its heart ever lowers a trade barrier, ever,” Baucus said.
“We in the Congress have to help China do what it knows it should do,” he said.
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