WASHINGTON (Reuters): The U.S. Senate on Tuesday approved a controversial bill to punish China over its currency in an effort to save American jobs, sending it to the House of Representatives where its fate is uncertain.
Beijing has warned the legislation could spark a trade war but it has advanced further than similar U.S. bills in the past, reflecting widespread frustration with China's trade policies and how U.S lawmakers have seized on voter anxiety about high unemployment ahead of elections in 2012.
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