The US Senate Postponed Voting On RMB Related Motion &Nbsp; Obama's Attitude Was Ambiguous.

6, due to U.S.A The two parties are divided seriously, and the US Senate has decided to postpone the final vote of the 2011 currency exchange rate supervision reform bill, which involves RMB exchange rate, until next Tuesday (October 11th).

The motion has to be postponed.

The US Senate voted on a 3 day "currency exchange rate supervision reform bill 2011" against China's RMB exchange rate. The Senate passed the bill on a procedural basis that paved the way for the final vote.

The bill will bind the exchange rate and trade subsidies, requiring the US government to investigate the main issues. Trade Does a partner directly or indirectly depress the value of its own currency and subsidize its exports? The United States will impose punitive tariffs if the exchange rate of its major trading partners is underestimated. It is widely believed that the bill is mainly aimed at China, aimed at forcing the renminbi to accelerate appreciation. China resolutely opposes this bill.

The bill needs to pass through the Senate and the president of the United States before it can become a bill. Last year, the Democratic House of Representatives controlled the house of Representatives passed a similar exchange rate bill, but the Senate did not act.

The US Senate originally planned to hold the final vote on Friday (October 7th). On the 6 day of the local time, the US Senate postponed the final vote and will vote on next Tuesday (October 11th).

The reason for the US Senate's delay in voting is that the two party members of the United States do not agree on the issue of RMB exchange rate.

Obama's attitude ambiguous

According to reports, some politicians in the United States believe that China undervalued the value of RMB to expand exports, and blamed the recent high unemployment rate on the value of the renminbi. The motion was not only opposed by more than 50 industrial and commercial organizations in the United States, but also opposed by the US Republican speaker Bona.

On the 6 day, Obama made reservations in response to the motion concerning the RMB exchange rate. He expressed concern that the bill might not be in line with international treaties and obligations and could not be supported by the world trade organization.

Obama also said that China has undergone significant changes in the past 20 years. China and the United States have achieved a stable bilateral relationship in a healthy way. "The United States can establish a win-win trade relationship with China."

Obama did not make it clear whether he would veto the Congressional push for the renminbi exchange rate bill. However, he also pointed out that the RMB exchange rate has appreciated slightly in the past year, but it is not enough.