All Sectors Of The United States Oppose The Senate Currency Exchange Rate Act.

The US Senate voted on the 11 currency exchange rate supervision reform bill 2011, which is mainly aimed at China, aiming to force the renminbi to accelerate appreciation.

People from all walks of life in the United States generally believe that this is only a political game, which will not only increase the cost of living of the American people, but also have a negative impact on the US economy.

Would damage

China Chamber of Commerce, 12, said it regretted that the US Senate passed the currency exchange rate supervision reform act 2011.

The terms of the bill are not conducive to protecting American jobs, or even counterproductive.

Di Anhua, chairman of the China Chamber of Commerce in the United States, said: "the Senate bill will damage bilateral trade and investment relations, weaken the status of the United States in the WTO, and harm the interests of the state.

We oppose the bill.

The bill should not be incorporated into the law. "

Di Anhua added: "we call on members of Congress to step up efforts to improve the most important issues for members of the chamber of Commerce."

These problems include urging China to expand the market access of us enterprises in industries that still restrict foreign investment, increase the protection of intellectual property rights, and eliminate those preferential policies that benefit Chinese enterprises at the expense of foreign enterprises and damage real competition.

The Chinese Chamber of commerce also appealed to increase through the "national export plan".

The Washington Post issued an editorial saying that the bill would only backfire and harm the United States. The current global economic recovery is facing great uncertainty. It needs countries to face multiple challenges, rather than provoke new trade frictions to impede economic recovery.

The house is hard to pass.

According to the Wall Street journal, the Republican leaders in the house hinted that there was no intention of arranging a vote on the bill.

U.S. House of Representatives Speaker John Bona recently made it clear that he did not support the bill, calling it a "dangerous" move.

He believes that the revaluation of other countries' exchange rates "far exceeds the responsibilities and powers of the United States Congress".

He also insisted that he would withstand the pressure to ask the house of representatives to vote.

The financial times has pointed out that if there is no flexibility, the bill will be passed in the house of Representatives and it will be very unlikely to become a formal law in the near future.

Is the white house going to be world wide?

William Galston, a senior fellow at the Brookings Institution, pointed out that under the circumstances of no change in positions such as Boehner and other top Republicans, the bill will be difficult to pass in the house of representatives or even won a chance to vote in the house of Representatives.

At a news conference held at the White House, U.S. President Obama said he was worried that the bill might not be compatible with international treaties and obligations and could not be supported by the world trade organization.

Eric Canto, the two member of the US House of Representatives, also expressed concern about the negative effects of the bill.

He believed that trade disputes between China and the United States should be resolved through intergovernmental communication.

If a trade war is triggered, it will bring losses to the interests of the American consumers, resulting in counterproductive consequences.