Speaker of the House John Boehner called legislation that has advanced in the Senate to deal with the value of China’s currency “dangerous.”
“Well, I’m concerned about the Chinese currency situation. There’s been an awful lot of work done over the last seven or eight years to try to bring its valuation up, but I think it’s pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency,” Boehner told reporters at the Capitol on Tuesday.
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“This is well beyond, I think, what the Congress ought to be doing. While I’ve got concerns about how the Chinese have dealt with their currency, I’m not sure this is the way to fix it.”
On Monday, the Senate voted in favor of a motion to end debate on the Currency Exchange Rate Oversight Reform Act of 2011, indicating that the legislation has strong support for passage. China has said that the bill could lead to a trade war if it became law.