From Brazil's recent submission (Word doc) to the WTO on "THE RELATIONSHIP BETWEEN EXCHANGE RATES AND INTERNATIONALTRADE"
The bearing of wide currency fluctuations on the delicate balance of commitments and concessions resulting from negotiations at the WTO must be better understood and be properly dealt with. Brazil is suggesting that the WGTDF examines available tools and trade remedies in the existing multilateral system, if any, to compensate for or otherwise redress those currency fluctuations that may impair commitments undertaken by Members in successive rounds of negotiations. In addition, addressing that issue may help prevent the overstretching of multilateral trade rules as regards, for instance, provisions on safeguards, antidumping, subsidies and countervailing measures, as well as bound tariffs.
It's going to be very intersting to see what, if anything, comes out of this discussion. At the very least, the discussion should be interesting.
