WASHINGTON, March 16 (Reuters) - China could face duties on some of its exports to the United States if it does not take steps to realign its currency, according to the draft text of a Senate bill to be unveiled on Tuesday.
The legislation crafted by Senators Charles Schumer, a New York Democrat, and Lindsey Graham, a South Carolina Republican, would require the U.S. Treasury Department to identify countries with fundamentally misaligned currencies each September and March.
It would authorize the Commerce Department to take currency misalignment into its calculation of import injury duties for specific products if a targeted country has not begun steps within 90 days to realign its currency, the bill's text said. (Reporting by Doug Palmer; Editing by James Dalgleish)