By and  on March 14, 2010

The U.S. and China are gearing up for a new battle over China’s currency policy in advance of a key Treasury Department report next month and Congressional midterm elections in November.

On Monday, 130 House lawmakers sent a bipartisan letter to Treasury Secretary Timothy Geithner and Commerce Secretary Gary Locke urging the cabinet officials to take action against China’s currency policy, which they claim hurts U.S. manufacturers by undervaluing exports and making them cheaper, putting U.S. companies at a competitive disadvantage.

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