China's trade surplus rose a bigger- than-estimated 73 percent in May from a year earlier
The gap widened to $22.45 billion,..
``Today's number is very large and will add political pressure for currency gains,''
The U.S. Senate will introduce a bill this week to pressure China to strengthen its currency, the Financial Times said today, citing unidentified people close to the situation.
Some U.S. lawmakers said last month that the yuan was undervalued by 40 percent to make China's exports cheap and pledged trade sanctions as punishment.
China will move at its own pace on the currency, ``The U.S. will put out some barriers to imports but the Chinese will then just export their products elsewhere.''
Chinese steelmakers such as Wuhan Iron & Steel Co. and Handan Iron & Steel Co. triggered a petition from U.S. manufacturers last week seeking import duties on welded standard pipe because of alleged subsidies and dumping.
China says it will revamp the system for regulating food and drug safety. The government also describes some U.S. claims about product dangers as unscientific, exaggerated and wrong.
The May trade gap was the country's fourth-highest monthly surplus on record.
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