China, U.S. trade war risk rising, Credit Suisse economist says

Five U.S. senators including Charles Schumer of New York and Lindsey Graham of South Carolina introduced legislation this week to make it easier for the U.S. to declare currency misalignments and take corrective action.

Chinese Premier Wen Jiabao rebuffed calls on March 16 for an end to the currency link, saying he doesn't think the currency is “undervalued.”

“In the near future, given the political tension between China and the U.S., it is unlikely that we will see much of an appreciation,” Tao told Bloomberg Television.

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