China slams US pressure on yuan

China hit out at a proposed bill backed by US senators giving Beijing six months to revalue the yuan, or face a 27.5 percent tariff on all Chinese manufactured goods entering the United States. "We believe this is not a way to resolve differences," Foreign Ministry spokesman Kong Quan told reporters. A dozen US senators are said to have agreed to co-sponsor the bill, which is expected to be introduced into the US Senate as early as Friday. China has come under growing pressure from the US to revalue its currency which critics say makes Chinese exports unfairly cheap.