China tariffs bill on hold

Two senators sponsoring a bill imposing tariffs on Chinese goods unless China revalues its currency soon said Thursday they would delay pressing for a vote, state media reported. Senators Charles Schumer and Lindsey Graham made the announcement after meeting two critics of the bill, Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow. The lawmakers agreed the legislation would be counter-productive and believed that China is poised to voluntarily revalue its currency.