User login

Home Page

Latest News

House Ways & Means Committee Ranking Member Sander Levin (D-MI) late last week dismissed as insufficient overtures from the Obama administration that it could support legislation to create more specific criteria for determining whether a U.S. trading partner should be named a currency manipulator in the Treasury Department's twice-yearly report.

The Chinese government last week announced it will suspend the implementation of new regulations that would require foreign companies supplying information and communications technology (ICT) to China's financial institutions to turn over sensitive commercial information about their equipment, and that it would revise those rules after getting feedback from interested parties.

UPDATED: Treasury Secretary Jack Lew on April 16 indicated he is willing to consider supplementing his department's twice-yearly report on foreign exchange rate policy with new “objective” criteria that could trigger additional administration actions if foreign trading partners meet that new standard for currency manipulation.

The United States has requested a World Trade Organization panel with China over what it charges are prohibited export subsidies that Beijing provided to companies operating in 178 industrial clusters known as “demonstration bases,” Geneva sources said April 8.

U.S. Agriculture Secretary Tom Vilsack has said the administration is finalizing a proposed agenda for a high-level dialogue with China that the two sides last year agreed to set up and that will address delays in Beijing's approval of agricultural biotechnology, which have hampered U.S. exports of grain to China.