Laws against China won't resolve trade

U.S. legislation against China would not resolve thorny trade issues with the Asian economic giant. U.S. lawmakers and manufacturers are becoming increasingly vocal about Beijing's yuan policy which they say gives Chinese companies a huge unfair trade advantage. The newly proposed legislation by US Senate Finance Committee Chairman Charles Grassley and Sen. Max Baucus would modify how the U.S. Treasury labels currency regimes that it feels give countries unfair trade advantages. The bill would make it easier to bring the authority of global institutions like the International Monetary Fund to bear on countries that do not let financial markets set relative currency values. The other bill would impose stiff tariffs on China for failing to address the yuan issue.