Senators could scupper Paulson's progress

US Treasury Secretary Henry Paulson will pressure Senators Charles Schumer and Lindsey Graham to stop pushing for a vote on their bill to impose a 27.5% tariff on US imports from China if Beijing doesn't allow the yuan to appreciate against the dollar. Having backed off the bill on three previous occasions, Schumer and Graham are keen on forcing a vote this week, the Wall Street Journal reported. Such a move would undermine the progress treasury officials say Paulson made on his recent visit to China. During a meeting with President Hu Jintao last Friday, Hu and Paulson dismissed their advisors 30 minutes into the talks and proceeded to speak in private for a further 20 minutes. US officials said the talks covered issues ranging from China's poor record in enforcing intellectual property rights to concerns that Beijing is deliberately keeping the yuan undervalued to make its exports relatively cheaper. Paulson said he was encouraged that the differences encountered hinged on timing as opposed to principles.