U.S. Senator Jeff Sessions boards an elevator outside the Senate floor after voting the Currency Exchange Rate Oversight Reform Act on Capitol Hill in Washington D.C., capital of the United States, Oct. 11, 2011. The U.S. Senate on Tuesday passed a controversial currency bill which threatens to punish China for so-called "currency manipulation" with retaliatory tariffs, despite strong opposition from China and many U.S. business groups.The bill, namely the Currency Exchange Rate Oversight Reform Act, is especially directed at China's currency, the yuan, which the U.S. claimed is undervalued to make Chinese exports to the U.S. cheaper. |
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