U.S. Mulls New Way to Prod China on Currency Policy, WSJ Says

by Dramelin 7:00 PM 0 comments

Before taking office, Trump had threatened to label China a currency manipulator and impose punitive tariffs on its products. President Donald Trump?s administration is considering a new tactic to discourage China from undervaluing its currency that falls short of a direct confrontation, the Wall Street Journal reported, citing people briefed on or involved in formulating the policy. American companies would then be in a position to bring anti-subsidy actions to the U.S. Commerce Department against China or other countries, it said. Under the plan, the commerce secretary would designate the practice of currency manipulation as an unfair subsidy when employed by any country, instead of singling out China, the newspaper reported. The discussions are part of a strategy being pursued by the White House?s new National Trade Council to balance the goals of challenging China on certain policies while keeping broader relations on an even keel, the WSJ said.