WASHINGTON (Reuters) - China's currency is clearly undervalued, but pressure on Beijing to make its currency rise in value won't trim the U.S. trade deficit with China or reduce the jobless rate, say American economists.
Political pressure is building on the Obama administration to name China a "currency manipulator" in a mid-April report, and lawmakers are threatening to slap tariffs on Chinese goods to offset any export subsidy a cheap currency gives China.
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