FAST FIVE: Commerce Department Targets China With Proposed Tariffs On 'Currency Manipulators'
A lot has happened since then-candidate Trump said he would label China a currency manipulator on 'day one' should he make it to the Oval Office.
The change would allow the Commerce Department to impose anti-dumping and countervailing duties on products believed to benefit from manipulated currencies.
“This change puts foreign exporters on notice that the Department of Commerce can countervail currency subsidies that harm US industries,” Commerce Secretary Wilbur Ross said in a statement.
Any tariffs applied under the new policies would be distinct from Trump's punitive trade-war tariffs.
The plan had reportedly fallen by the wayside, before suddenly rising to the top of the Trump team's agenda in recent weeks (we can only imagine why).