House Hearing to Address Whether China's Currency Manipulation is CV Subsidy
On August 31, 2010, House Ways and Means Committee Chairman Levin (D) issued a statement following an announcement by the Commerce Department regarding countervailing duty petitions filed by U.S. companies and workers. Levin notes that while Commerce found that the…
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petitions failed to allege facts sufficient to initiate an investigation on whether China’s currency manipulation is a countervailable subsidy, it did not find that currency manipulation cannot be addressed as a countervailable subsidy. Levin states that this and other courses of action will be reviewed at the Ways and Means Committee's September 15 hearing on China’s exchange rate policy. (See ITT’s Online Archives or 07/30/10 news, 10073009, for BP summary announcing this hearing.)