Panel Calls for Currency Reform

摘要

The bipartisan Currency Reform for Fair Trade Act could ensure countervailing duty laws apply to non-market economies. More pressure was put on the U.S. government to pass legislation calling for Chinese currency reform recently. The U.S.China Economic and Security Review Commission (USCC), a congressionally appointed panel, recommended in its annual report released Nov. 15 that Congress enact legislation to define currency manipulation as an illegal export subsidy, make it a factor in determining the value of duties and whether countervailing and antidumping cases should be brought, and remove intent as a prerequisite for designation of a country as a currency manipulator.