(World Trade Interactive)
Reps. Tim Ryan, D-Ohio, and Tim Murphy, R-Pa., are working to obtain their colleagues’ signatures on a letter calling on House leaders to bring the Currency Reform for Fair Trade Act (H.R. 2378) to the House floor for a vote. According to a draft of the letter, this bill would direct the Department of Commerce to treat currency undervaluation as a prohibited subsidy, which would allow the imposition of antidumping or countervailing duties on injurious imports from any country that persistently undervalues its currency. The letter asserts that this measure has been written to be consistent with U.S. rights and obligations as a member of the World Trade Organization and the International Monetary Fund. Read more here.
