WASHINGTON, June 19 (Reuters) - China's currency move is a positive first step but if the yuan does not rise significantly in value the United States will need to take action, the U.S. House of Representatives' top tax writer said on Saturday.
'We have seen actions like this before and it is clear that China did not allow enough appreciation the last time it adopted a policy like this one,' said Democratic Representative Sander Levin, who chairs the House Ways and Means Committee.
'If China takes that same approach again, the United States will still need to take action,' Levin said in a prepared statement.
(Reporting by Andy Sullivan; Editing by Doina Chiacu) Keywords: CHINA YUAN/USA LEVIN (andy.sullivan@thomsonreuters.com; +1 202 421 5603) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We have seen actions like this before and it is clear that China did not allow enough appreciation the last time it adopted a policy like this one,' said Democratic Representative Sander Levin, who chairs the House Ways and Means Committee.
'If China takes that same approach again, the United States will still need to take action,' Levin said in a prepared statement.
(Reporting by Andy Sullivan; Editing by Doina Chiacu) Keywords: CHINA YUAN/USA LEVIN (andy.sullivan@thomsonreuters.com; +1 202 421 5603) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.