DOC Won't Probe China's Alleged Currency Meddling

Law360, New York (August 31, 2010, 8:07 PM EDT) -- Giving domestic manufacturers less than they had hoped for, the U.S. Department of Commerce has refused to pursue claims that China’s devaluation of its currency constitutes an unfair subsidy while laying groundwork for countervailing duties on $514 million of aluminum products imported from China in 2009.

Commerce announced Tuesday that it would not launch investigations into allegations that China’s practice of undervaluing its currency essentially subsidizes its coated paper and aluminum exports, citing inadequate proof that those sectors are specifically aided by the practice.

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