Word: schumer
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...Such spats would be comical if they did not hint at a worrying lack of understanding on both sides. This defining feature of the relationship was clearly in evidence in late March when U.S. Senators Charles Schumer, Lindsey Graham and Tom Coburn visited Beijing. Schumer and Graham are co-sponsoring a bill - now delayed until the fall - that threatens to slap a 27.5% tariff on Chinese imports to the U.S. unless Beijing allows the Chinese currency to rise sharply, a move the senators believe would help cut America's trade deficit. Chinese businessman Liu Weiping attended a talk given...
...fund-raising front, Democrats have been surprisingly competitive with the Republicans. In a rare feat for the party, the Democratic senatorial campaign committee has outraised its Republican counterpart. Last year "our bottom-line goal was not to lose any seats," says Charles Schumer, the New York Senator who heads the committee. "Now, if things fall in line, we might even pick up the Senate." Republicans could even lose the Tennessee seat of retiring majority leader Bill Frist to Representative Harold Ford, a Democrat...
...Senator Charles Schumer visited Beijing last week with two other Washington lawmakers to push China to freely float its currency. He argues that it's undervalued and is driving up the $200 billion U.S. trade deficit with China. Schumer spoke with TIME's Austin Ramzy about why he's behind legislation that would slap a 27.5% tariff on Chinese imports to the U.S., and why he's encouraged by his meetings with mainland policymakers...
...also why two U.S. senators are scheduled to arrive in Beijing this week, brandishing the negotiating equivalent of stone axes. Lindsey Graham and Charles Schumer are co-sponsors of a bill that would slap a 27.5% tariff on all Chinese imports unless Beijing allows its currency to appreciate significantly against the dollar, an adjustment some trade experts believe would reduce the deficit by making China's exports more expensive in the U.S. and U.S. products cheaper in China. Chinese Prime Minister Wen Jiabao, at a press conference last week, suggested the two Washington politicians could save U.S. taxpayers the airfare...
...that happened?if, say, the Graham-Schumer bill became law and steep tariffs were levied on Chinese imports?Beijing would likely retaliate. Inside the Communist Party, Hu's leadership is under increasing pressure from party members who are questioning the benefits of the country's integration into the global economy. During the annual National People's Congress, which ended last week, former National Bureau of Statistics director Li Deshui was scathingly critical of government policies that give foreign firms preferential tax treatment in return for investment, and warned against allowing foreign companies to make "malicious acquisitions" until "China's national...