(ROUGH CUT - NO REPORTER NARRATION)<br/> STORY: The U.S. Senate on Tuesday approved a controversial bill to punish China over its currency in an effort to save American jobs, sending it to the House of Representatives where its fate is uncertain.<br/> The legislation, which Beijing has warned could spark a trade war, would allow the U.S. government to slap countervailing duties on products from countries found to be subsidizing their exports by undervaluing their currencies.<br/> Some U.S. lawmakers contend China's yuan is undervalued by as much as 40 percent, giving Chinese producers an unfair advantage in international markets and costing U.S. jobs.<br/> The Senate's 63-35 vote puts the bill, which is designed to pressure Beijing into letting the yuan rise in value, in the hands of the Republican-controlled House, which may never vote on the bill despite rank-and-file support.
