At current, economists estimate the yuen to be undervalued by up to 40 percent, which allows China an unfair advantage in trade agreements. On the domestic side, those within the US steel industry feel, what they believe to be an undervalued yuan is largely detrimental to their business.
Congress is being asked to consider passing a bill which would require the Department of Commerce to treat undervalued currencies as an "illegal export subsidy", which would in turn would open doors, allowing domestic steelmakers to seek countervailing duties against offending countries.