Caterpillar Lobbying to Block U.S. Measure on China’s Currency

A trade group for businesses with investments in China, such as Caterpillar Inc., is lobbying to fend off U.S. legislation aimed at forcing the Chinese to raise the value of their currency.

The U.S.-China Business Council of more than 200 companies held meetings with staff for lawmakers on the House Ways and Means Committee to argue against the measure, said Erin Ennis, vice president of the Washington-based group. The bill would let companies seek higher tariffs on Chinese goods.