US threatens Beijing with duties

More than 140 members of the US Congress have threatened Beijing with duties on some of its exports if it fails to revalue its currency. The Obama administration is due to decide whether to label China a currency manipulator in mid April.

Since 2005, US Congress has accused the Chinese government many times of manipulating the yuan's exchange rate. However all attempts to pass legislation against China have been vetoed by the US government. US Department of Treasury said last October that none of US' major trading partners, including China, manipulate their exchange rates.