International Economic Law and Policy Blog

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Currency Disputes

57 posts

Clinton and Obama on Currency

From the campaign trail, Hillary Clinton takes on the China currency issue: The China Currency Coalition ("CCC") today greeted enthusiastically the announcement by Senator Hillary Clinton (D-NY) that she has become a co-sponsor of S. 796, the Fair Currency Act of 2007, also known as the Bunning-Stabenow-Bayh bill

Tough Talk on China's Currency

The Democratic candidates were talking to the Alliance for American Manufacturing today, and they had some strong words on the Chinese currency issue. From Obama: It’s not just that China is following the path taken by so many other countries before it, and dumping goods into our market while

House Ways and Means on China's Currency

From a letter to President Bush from the House Ways and Means Committee: China's currency manipulation needs to be addressed through the WTO, as well as the IMF. WTO rules are clear. A member country "shall not, by exchange action, frustrate the intent of the provisision this

Mattoo and Subramanian on WTO Currency Rules

Joel recently mentioned a new paper by Aaditya Mattoo and Arvind Subramanian entitled "Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization." I had been planning for a while to do a short post on it, but was distracted by other things. What

AD/CVD and Currency Manipulation

Chris Padilla, Under Secretary of Commerce for International Trade, says that using AD/CVD duties to fight currency manipulation is not a good idea: The Chinese currency has received particular legislative attention. I will leave it to my colleagues at the Treasury to discuss currency policy. Instead, I will address

A Rising Yuan?

The Economist reports: IN 2005 two American senators introduced a bill into Congress that threatened to slap a tariff of 27.5% on all Chinese imports unless the yuan was revalued by the same amount (their estimate of how much the currency was undervalued). That legislation was dropped, but several

Some Support for a WTO Agreement on Currency Manipulation

I've said before on this blog (see, e.g. here) that WTO rules on exchange rate manipulation would be useful. I didn't have any detailed proposal in mind; it was my gut instinct plus some very basic arguments. Well, now I can cite to some top-notch