From Newsmax:

China said on Wednesday it "could not be any clearer" in its repeated commitment to a stable exchange rate after the U.S. Congress threatened to levy duties on some Chinese exports if it fails to revalue its currency.

The temperature in the long-running dispute over China 's exchange rate regime is rising quickly, with a bipartisan bill introduced on Tuesday in the U.S. Senate that aims to get Beijing to let the yuan rise.

Focusing on the yuan will not help to solve problems in the Sino-U.S. bilateral trade relationship, a Chinese commerce ministry official told Reuters.

"We oppose the over-emphasis on the yuan's exchange rate," the Chinese official said, when asked about the bill.

The apparent hardening of positions drove...

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