This week’s report with trade correspondent L.C. covers US trade developments with Canada (lumber), Vietnam (tires), Brazil (steel), and Taiwan (FTA); the Republican convention; and Japan-Australia-India talks for “supply chain resilience” A WTO dispute settlement panel has found that the US erred in determining that Canadian softwood lumber was unfairly subsidized and that it therefore […]
Administration to punish “undervalued” currencies
The weekly trade report with L.C. The Trump administration has taken another step in a protectionist direction with the Commerce Department’s release on February 3rd of its final rule to punish “undervalued” currencies. The rule will take effect on April 6th. Other protectionist measures that are under consideration include exiting the World Trade Organization’s Government […]
Administration’s trade and currency policies are contradictory
by Trade Correspondent L.C. In this odd week for US-China ties, President Donald Trump formally accused Beijing of being a currency manipulator while also calling for the US to manipulate the dollar lower. This raises the question of whether the Trump Administration will directly intervene in the currency markets to devalue the dollar. That’s something […]
President accuses trade partners of currency manipulation
Trade correspondent L.C. reports: President Trump has renewed his allegations of foreign currency manipulation at the same time as he is pushing for US manipulation. Meanwhile, the administration’s proposal to treat currency undervaluation as a countervailable subsidy has come under attack at the WTO. On July 3rd the president tweeted, “China and Europe playing big […]
Commerce proposes a new countervailing duty: currency devaluation
Trade correspondent L.C. writes: In a major new trade policy move, the Commerce Department on May 23rd released a draft proposal to add currency devaluation to its rules on countervailing duties. US law defines a countervailable subsidy as a financial contribution from a government or public entity that is specific and provides a benefit to […]
