Congress believes that China, as an export-driven giant, has been hurt by this unfair practice, because manipulating the exchange rate has accumulated a huge and growing trade surplus with the United States at the expense of American industry and labor. What makes Congress even more uneasy is that China has accumulated more than $650 billion in foreign exchange reserves. Worryingly, China will use these assets to purchase important strategic assets of the United States. China's acquisition of Mattel, IBM and, more recently, Unocal is regarded as a threat to American national security.

It has been drafted, but legislation has not yet been passed, so levying additional tax on all imported goods from China will be considered as an undervalued RMB; Legislation prohibits the Export-Import Bank of the United States from providing a credit package of 5 billion yuan to support Westinghouse's bid to build a nuclear power plant in China. As a result, the US Treasury Department approved Unocal's sale to CNOOC from the use of funds, and passed a non-binding resolution, expressing concern that the sale of CNOOC would threaten the national security of the United States.