Trade truce with China in the Senate

The article I choose out of the New York Times was about a trade truce with China within the Senate. There was a bill being proposed within the Senate that would threaten steep tariffs on Chinese imports if Chinese leaders refuse to let their currency, the Yuan, raise in value against the dollar. The tariff of 27.5 % would be on all exported goods coming from China. The Senate has reserved the right to put this to a vote in Sept. but is hoping that the matter will be dropped. The Senate Finance Committee is pushing a separate bill that would focus more attention on currency policies but stop short of threatening tariffs on imported goods.

China is becoming more and more a super power in the world in the regards of consumption and production. America has tried to reduce the trade deficit by trying to boost U.S. exports to China. Exports have increased significantly in the past few years, but not nearly as much as the flood of Chinese imports to the U.S. We export cotton, we import clothing, We export hides, we bring in shoes. We export scrap metal. We bring back machinery. We're exporting waste paper; we bring back cardboard boxes with products inside them. We have failed to make trade more of a two-way street, rather it's a trash shoot into the American consumer’s backyard. There is also talk that China is trying to engage in currency manipulation, going hand and hand with China buying up America's ever growing debt, which could then make the dollar crash and burn and the super power America as we know it could float away in the wind like a plastic bag caught in a updraft.