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International Trade Treasury Assessments Have Not Found Currency Manipulation, But Concerns about Exchange Rates Continue

By Snowe, Olympia J., Senator

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Book Id: WPLBN0000228845
Format Type: PDF eBook
File Size: 0.9 MB
Reproduction Date: 2005
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Title: International Trade Treasury Assessments Have Not Found Currency Manipulation, But Concerns about Exchange Rates Continue  
Author: Snowe, Olympia J., Senator
Volume:
Language: English
Subject: Government publications, Accountability in government, United States. General Accounting Office
Collections: Government Library Collection, Government Accountability Integrity Reliability Office Collection
Historic
Publication Date:
Publisher: United States General Accounting Office (Gao)

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Snowe, O. J. (n.d.). International Trade Treasury Assessments Have Not Found Currency Manipulation, But Concerns about Exchange Rates Continue. Retrieved from http://www.worldebooklibrary.org/


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Government Accountability Integrity Reliability Office Collection

Excerpt
Excerpt: Treasury has not found currency manipulation under the terms of the 1988 Trade Act since it last cited China in 1994. Treasury officials make a positive finding of currency manipulation only when all the conditions in the Trade Act are satisfied-when an economy has a material global current account surplus and a significant bilateral trade surplus with the United States, and is manipulating its currency with the intent to gain an unfair trade advantage. Treasury said that in its 2003 and 2004 assessments, China did not meet the criteria for manipulation, in part because it did not have a material global current account surplus and had maintained a fixed exchange rate regime through different economic conditions. Japan did not meet the criteria in 2003 and 2004 in part because its exchange rate interventions were considered to be part of a macroeconomic policy to combat deflation.

 

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