U.S. presses China over currency in economy talks
World BusinessMay 3, 2012
BEIJING (AP) ― U.S. Treasury Secretary Timothy Geithner urged Beijing to let China’s tightly controlled currency rise in value amid strains over trade and industrial policy at a high-level economic dialogue Thursday.Beijing has allowed the yuan to rise gradually but Washington and other trading partners complain it still is undervalued, giving Chinese exporters an unfair advantage and hurting foreign competitors. Some American lawmakers are calling for punitive tariffs on Chinese goods if Beijin