The Senate just approved the controversial Chinese currency bill, which would impose tariffs on imports from the country over alleged currency manipulations, in a bipartisan 63-35 vote.
Speaker of the House John Boehner is unlikely to bring the bill up in the House, calling it dangerous” last week.
“I’m concerned about the Chinese currency situation. There’s been an awful lot of work done over the last seven or eight years to try to bring its valuation up,” Boehner told reporters last week. “But I think it’s pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency. This is well beyond, I think, what the Congress ought to be doing. While I have concerns about how the Chinese have dealt with their currency, I’m not sure this is the way to fix it.”
The White House has yet to take a formal stand on the bill, though last week Vice President Joe Biden offered the sharpest critique yet of China’s monetary policies — calling the country a currency manipulator, before walking back the comments.
Business Insider Emails & Alerts
Site highlights each day to your inbox.