WASHINGTON, Sept 22 (Reuters) - A senior Democratic lawmaker said on Wednesday he consulted with President Barack Obama's administration in drafting a bill aimed at pressuring China to revalue its currency.
In remarks at the Global Services Summit, House of Representatives Ways and Means Committee Sander Levin declined to say whether the administration backed the bill, which is scheduled for committee action on Friday.
However, one motivating factor behind the legislation was the Obama administration's conclusion that formally labeling China a currency manipulator would be a futile move unlikely to change Beijing's behavior, he said.
Meanwhile, Representative Dave Camp, a Republican, said he had concerns that the bill could violate World Trade Organization rules and that it could "do more harm than good" in U.S. trade relations with China.
(Reporting by Doug Palmer; Editing by Eric Walsh)