US increases pressure on China to float currency

The Bush administration stepped up its appeals for China to let its currency rise on Thursday 14 April, as pressure mounted in Congress for tougher action on a host of Chinese practices that allegedly fuel the burgeoning US trade deficit.

John B. Taylor, Treasury undersecretary for international affairs, urged China to let its currency, the yuan, rise according to market forces without further delay because it has taken enough preparatory measures to do so. "We have very much stressed that the