US lawmakers voice concern over burgeoning trade deficit with Chin

Washington, Feb 2 (UNI) US Congressmen have called for a legislative action to deal with the United States' trade imbalance with China which now stands at 213.5 billion dollars, marking a record increase of 155 per cent in just six years.

In the year 2000, the US trade deficit with the Communist country was only 83.8 billion dollars.

Several lawmakers at the US-China Economic and Security Review Commission yesterday accused Beijing of manipulating its currency to undervalue it vis-a-vis the dollar. They complain that this unfair practice intended to make their goods cheaper for the American consumers, while making US products expensive for their home buyers.

The complain that artificial value of China's currency is the main cause of the burgeoning trade imbalance Democratic Senator Benjamin Cardin told the Review Commission that the imbalance could pose great harm to the US interests.

''Our trade relations are not sustainable, it's dangerous in my view and it's unfair. China is not complying with the trade agreements and trade rules that have been established,'' he said.

Both, the Democratic and the Republican lawmakers wanted the administration to threaten China with economic sanctions if it failed to change its trade policies. The United States imports a third of Chinese exports, making it China's top customer.

Another Democratic Senator Sherrod Brown wanted the Bush administration to demand a fair play from China. ''The US is too big a player -- we are the most lucrative market in the history of the world -- they are not going to walk away from us if we demand fair play,'' he said.

Members also voiced concern at China's frantic efforts to modernise and equip its military.

Congressmen and commission members complained that China's behavior on a wide range of issues, especially the economic ones, affect Americans every day in very real ways, in the loss of jobs, the shift of manufacturing and the erosion of American competitiveness.

UNI