Senate approves trade bill currency rules lacking sanctions

Reuters News
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Posted: May 22, 2015 5:36 PM

WASHINGTON (Reuters) - The U.S. Senate on Friday voted for a compromise on currency manipulation rules in a key trade bill, avoiding a clash with the Obama administration and U.S. trade partners.

The Senate voted 70 to 29 in favor of an amendment that beefs up existing rules but stops short of allowing sanctions against countries that deliberately weaken their currencies to make their exports cheaper.

(Reporting by Richard Cowan and Jason Lange; Editing by Sandra Maler)