WASHINGTON — Furious about what is largely viewed as a policy of undervaluing its currency by China, three GOP House members introduced legislation Wednesday that would slap 40 percent tariffs on Chinese imports. A similar bill was introduced in the Senate last Friday.

“If China gives itself a 40 percent advantage by illegally manipulating its currency, then I say let’s put a 40 percent tariff on all their goods to level the playing field,” said co-sponsor Rep. Cass Ballenger (R., N.C.), who is taking the side of textile and furniture producers in his rural district who claim an undervalued Chinese yuan is allowing cheap Chinese imports to gain an unfair advantage.

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