Reuters: US Dollar Report: UPDATE 1-US lawmaker urges investment treaty talks with China

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UPDATE 1-US lawmaker urges investment treaty talks with China Apr 26th 2012, 13:33 Thu Apr 26, 2012 9:33am EDT WASHINGTON, April 26 (Reuters) - A top Republican U.S. lawmaker on Thursday called on the Obama administration to negotiate an investment treaty with China while increasing pressure on Beijing to reform unfair trade and currency practices he said were spreading to other top developing countries. "Plain and simple, we cannot allow China to continue its unacceptable trade practices and I have concerns that countries such as India, Brazil and Argentina are emulating some of China's poor trade practices," House of Representatives Ways and Means Committee Chairman Dave Camp said in a speech. "We need better engagement with these countries to keep them from going down this slippery slope," he said. Congress also needs to decide what to do about sanctions on Myanmar that are set to expire this summer, he said. Camp said lawmakers have just started to focus on the issue but his own view was that sanctions legislation should continue in some form to keep pressure on the Southeast Asian nation to continue democratic reform.

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