US lawmakers say they are pushing for a legislation that would punish China for allegedly manipulating its currency.
The draft bill, which is to be submitted on Thursday, is to address what the US senators describe as the unlawful practice of currency manipulation, according to the AP.
Both Republican and Democratic senators had informed US Treasury Secretary Timothy Geithner about the draft bill a month ago.
Relations between Beijing and Washington have been strained over the issues of currency and trade.