IMF warns against U.S. treatment of currency in CVD cases

The Trump administration’s new approach to undervalued currency as a countervailable subsidy threatens to increase trade tensions and impinge on monetary policy, the International Monetary Fund staff said in a report this week. The Commerce Department in February issued a new rule that allows for the imposition of CVD duties on products found to receive unfair currency subsidies. The rule, which took effect in April, is being used in a CVD investigation, instigated by United Steelworkers, into passenger vehicle and...