US lawmakers revive China currency bill

US lawmakers announced Wednesday they would introduce legislation a day later to punish China for allegedly keeping its currency -- and therefore its exports -- artificially cheap.
Democratic Senator Sherrod Brown and Republican Senator Olympia Snowe wrote to Treasury Secretary Timothy Geithner last month saying they would propose a bill to treat currency undervaluation as an improper subsidy for Chinese goods.
The move comes days after the US Treasury Department cleared China of official accusations of currency manipulation last week, but said progress toward allowing the yuan to appreciate was "insufficient."