China criticizes US currency bill as protectionism
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Beijing accused Washington of protectionism Thursday after US lawmakers escalated the conflict over China's currency controls, inching the two economic giants closer to a trade war.
The Commerce Ministry said a measure approved Wednesday to allow Washington to penalize governments that manipulate exchange rates would not narrow the multibillion-dollar US trade deficit with China. It gave no indication whether Beijing might retaliate, though it has imposed antidumping duties in recent months on imports of US chicken, steel and nylon. (AP)
