China and the Weak Yuan

On September 29, the US House of Representatives, on a lopsided 346-79 vote, authorized the US Commerce Department to impose duties on imports from countries with undervalued currencies. Read that China. In a Congress riven by partisan bickering, the vote represented a rare signal victory for bipartisanship. But it is probably unrealistic to believe it will have any effect on the US trade deficit with China.

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