The Schumer/Graham bill aimed at getting China to revalue the Yuan is beginning to take shape. Here’s the outline:
- Treasury would be required to identify countries with fundamentally misaligned currencies
- Report to Congress twice per year on misaligned currencies
- Country gets 90 days to take steps to begin correcting currency misalignment
- anti-dumping duties if steps not taken
- 360 days to correct misalignment before case brought before WTO.