Less than two days after the US Senate voted to warn China it could face a 27.5% tariff on its US exports unless it revalues its currency, the US House of Representatives issued similar calls, introducing a bill that details guidelines for economic sanctions against China and establishes currency manipulation as an unfair trade practice. The move drew sharp rebuke from China's Foreign Ministry, which said ''the U.S. should look into itself for the trade deficit problem''. While the Bush Administration has pressed China to loosen its currency peg, it has said diplomacy was preferable to economic retaliation.
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