Obama stopped short of explicity backing legislation that calls for U.S. tariffs on imports from countries with purposely undervalued currencies, and he restated concerns that any measure must comply with global trade rules. Still, in his toughest language on China to date, the president echoed sponsors of the bill, which is now headed toward a final Senate vote on Tuesday. Efforts to bring action to a close on Thursday faltered because of a dispute between Republicans and Democrats over which amendments would be considered.
The measure, which has drawn warnings from Beijing that it could trigger a trade war, is still widely expected to pass.
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| U.S. President Barack Obama speaks about jobs and the U.S. economy during a press conference at the White House in Washington, October 6, 2011. |
"China has been very aggressive in gaming the trading system to its advantage and to the disadvantage of other countries, particularly the United States," Obama told a news conference focused on his proposal to revive a weak U.S. economy."Currency manipulation is one example of it," he said.
Obama, who faces a tough bid for re-election next year, did not say whether he would sign or veto the legislation if it reached his desk. Both the Senate and the House of Representatives would have to approve the measure first.
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