Washington criticizes Chinese currency intervention on Wednesday and the US administration has filed two new cases against Beijing at the World Trade Organisation in this connection, sources said. The moves are aimed to crank up pressure on Beijing to change what the US says are distortionary and illicit measures to favour its own companies. Tim Murphy, a Republican congressman from Pennsylvania, appeared at a House of Representatives hearing on Wednesday to promote a bill that would allow the US to treat Chinese currency undervaluation as an illegal export subsidy when imposing emergency tariffs. "The American people are calling for Washington to create jobs. Since the administration won't hold China accountable, the Congress must." Separately, the US trade representative (USTR) filed two WTO cases against China, one concerning Chinese restrictions on foreign suppliers processing credit and debit card payments, and another challenging China's own use of emerge...
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