China Currency Bill

http://au.ibtimes.com/articles/224693/20111005/china-to-u-s-currency-bill-would-provoke-a-trade-war.htm

China says that a trade war may well be on its way if America allows the Currency Exchange Rate Oversight Reform Act of 2011 to take place. Simply put, the act will authorize the government to impose tariffs on goods imported from countries alleged of manipulating their currency to gain an unfair trade advantage. What are your thoughts on this issue?

I need to read more on Chinese Protectionism, but it seems to be finger pointing in wake of the financial crisis. The average working Chinese person is still much, much poorer than the average American. Should they not be protecting their industries?

This posts assumes that a trade war isn't already being fought.

Just make it a general import tariff of 5%. They won't be able to claim that we're targeting them.

Does China impose a tariff on the goods they import?

I personally think the best course of action would be to, over time, put in place a full embargo on countries that allow slavery and high tariffs on countries with poor human rights. China still couldn't say that we're targeting them, and companies like Chiquita Banana wouldn't be able to use slave labor to make their products like they do now.

Wow, according to this, Obama didn't like tires coming from China. 

http://www.nytimes.com/2009/09/14/business/global/14trade.html

Mr. Obama’s decision to impose a tariff of up to 35 percent on Chinese tires...

Does China impose a tariff on the goods they import?

Seems like it:
http://trade.ec.europa.eu/doclib/docs/2003/september/tradoc_113817.pdf

And a lot more than we do.  Looks like 5-10% difference.

So... it's ok for us to devalue the US dollars they hold by printing more monies?

interesting bill.

Thumbs down on tariffs.