June 30 (Reuters) – A broad coalition of U.S. business groups urged senators on Wednesday not to approve a bill that would allow the United States to use import duties against China’s exchange rate policy.
“We agree that China needs an exchange rate that better responds to global trade flows,” the U.S.-China Business Council and about two dozen other groups said in a letter to each member of the Senate.
“We strongly disagree that legislation is the best means to acheive that goal,” the groups said. (Reporting by Doug Palmer; Editing by Theodore d’Afflisio)