Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

America is considering charging countries that devalue their currencies


6ly410
 Share

Recommended Posts

America is considering charging countries that devalue their currencies
Friday 24 May 2019 19

أميركا تدرس فرض رسوم على دول تخفض قيمة عملاتها
http://alsabaah.iq/9178/أميركا-تدرس-فرض-رسوم-على-دول-تخفض-قيمة-عملاتها

America is considering charging countries that devalue their currencies
WASHINGTON (Reuters)
The United States Department of Commerce said it is proposing a new customs duty to combat subsidies on products of countries that devalue their currencies against the dollar in another move that could lead to higher tariffs on Chinese products.
The new law could introduce goods from other countries to raise tariffs, including Japan, South Korea, India, Germany and Switzerland.
All of these countries, along with China, are on the "watch list" of the semi-annual Treasury Department report, which monitors currency market interventions, global large current account surpluses and high bilateral trade surpluses.
The ministry said its proposed law would amend the normal process of charging counter-customs duties to include a new currency devaluation standard. Trump officials say the Chinese yuan has been depreciating against the dollar for a long time, despite the US-China trade war, which foreign exchange experts say has damaged the value of the yuan.
"This change warns foreign exporters that the Commerce Department can counter currency support that is damaging to US industries," Trade Minister Wilbur Ross said in a statement.
"Foreign countries will no longer be able to use currency policies to harm American workers and companies," he said.
Ross stressed that it was a step towards fulfilling the promise made by US President Donald Trump during his campaign to address unfair currency practices.
The ministry did not specify the specific standard it would use to assess whether US pricing of products was artificially low due to devaluation.

  • Upvote 3
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.