The US has filed two different complaints against China at the World Trade Organization concerning card payment processing companies and steel duties, Bloomberg reported. One complaint alleges that payment-processing companies such as MasterCard (MA.NYSE) and Visa (V.NYSE) are at a disadvantage as China favors a monopoly provider, China UnionPay. The second complaint concerns dumping duties that China imposed on more than US$200 million of US-made steel products. The cases emerge as US lawmakers step up pressure on the Obama administration to push China to revalue the renminbi. Lawmakers held a hearing on Wednesday to discuss legislation aimed at pressing China to raise the value of its currency. US Treasury Secretary Timothy Geithner is scheduled to appear before two congressional panels on Thursday where lawmakers will press him on the issue.
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