White House working with Congress on yuan bill issues

Reuters News
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Posted: Oct 12, 2011 2:29 PM
White House working with Congress on yuan bill issues

WASHINGTON (Reuters) - The White House said on Wednesday it was talking to U.S. lawmakers to iron out issues it has with a bill to punish China over its currency.

"If this legislation were to advance we would expect those concerns to be addressed," said White House Press Secretary Jay Carney, reiterating that China needs to address the undervaluation of the yuan.

The White House has previously said the bill raises "consistency" issues with U.S. obligations under international trade rules.

(Reporting by Alister Bull and Malathi Nayak; editing by Will Dunham)