Azevêdo: WTO was not built to deal with currency devaluation

After the Trump administration on Tuesday issued a regulation detailing how Commerce can levy countervailing duties if other countries devalue their currencies, the head of the World Trade Organization warned that WTO rules are not designed to handle exchange rate policy. “If you’re going to get [the WTO] to fix currency, it’s going to fail,” Director-General Robert Azevêdo said on Tuesday in response to a question about whether the Commerce regulation violates WTO rules. “You have the [International Monetary Fund],...