The proposal -- on which the Commerce Department is now seeking public comment -- would treat an undervalued currency as a subsidy that allows foreign businesses to export their goods more cheaply. The rule would allow U.S. companies to file a complaint with the U.S. International Trade Commission, the first stop in arguing for countervailing duties that could lead to additional tariffs on certain imports.
Currently, companies can’t cite currency weakness in claims of improper foreign subsidization of their competitors. Commerce Secretary Wilbur Ross said the measure adds to the administration’s arsenal in fighting foreign-currency manipulation, which the Trump administration says hurts American industry.House passes retirement bill making big changesWe Want to Hear from You Join the conversation
Who pays the penalties though? The tax-payer?
If this policy is enforced, it will depreciate the USD (dollar)
The euro is plausibly the most over-valued currency in the world, to encourage European investors to buy dollars to invest in the U.S. stock market and other financial instruments. This was true for the British pound too, prior to the Brexit vote and the depreciation that ensued.
It's not the end of games. Nobody knows yet. Bring the oil up $132 per barrel like before. US dollar was terrible down. $0.99USD = $1 CAD. That's Obama first term. Now Trump first term $1USD = $1.35 CAD. I like Trump first term better. Oil down dollars up. My pocket full
If u gotz slanty eyez wur gonna TARRIFF U!!!!1!!111!!
Well Trump's Administration is now attempting to kill the petrodollar. U.S. dollar's high in value only because everybody has to use it to buy oil. When the world decides to respond, dollars will no longer be in demand, dollars will be worthless.
They are aiming China and the Yuan obviously. Good luck escalating this (trade) war.
No such thing as an 'artificially' weak currency... Where the F do you come up with this BS...