mo4ch:>US proposes penalties on countries it accuses of manipulating currencies | Mo4ch News
The US Commerce Department has proposed a new rule to impose anti-subsidy duties on products from countries that Washington sees as undervaluing their currencies against the dollar to get an advantage in trade.The rule could put goods from Japan, South Korea, India, Germany, and Switzerland, at risk of higher tariffs.Those countries, along with China, were all listed on the Treasury Department’s currency report’s “monitoring list.” The list tracks currency market interventions, high global current account surpluses and high bilateral trade surpluses.Also on rt.comChina won’t use yuan exchange rate as a trade-war tool – central bank chiefThe commerce department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.“This change puts foreign exporters on notice that the Department of Commerce can countervail currency subsidies that harm US industries,” said Commerce Secretary Wilbur Ross.He added that “Foreign nation…