White House Denies Charges of Caving to China on Currency


A prominent Democratic senator on Sunday suggested that the Obama administration was letting China slide on possible currency manipulation in exchange for help on Iran sanctions — something the White House flatly denied.

Democratic Sen. Arlen Specter, reacting to news that the White House was delaying its report to Congress on whether China is manipulating its currency, told “Fox News Sunday” he’s concerned the administration could be missing a chance to help U.S. workers get on a level playing field.

The report was originally scheduled for release by April 15, around the time Chinese President Hu Jintao is visiting Washington for nuclear talks.

“I’m not too happy about a delay,” Specter said. “We have a real problem with the Chinese. They are very shrewd and customarily they outmaneuver us. They take our jobs. They take our money and then they lend it back to us and own a big part of America. So let’s watch exactly … what’s happening.”

Critics say the administration is delaying the report on exchange rates because it wants Chinese cooperation for new sanctions on Iran, and doesn’t want to alienate Beijing.

The article continues at FoxNews.com

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