White House Balks At Currency Provision In Customs Bill

Law360, New York (May 14, 2015, 3:58 PM EDT) -- The Obama administration on Thursday vehemently opposed a customs enforcement bill provision enabling trade officials to counter foreign currency manipulation with import duties, but stopped short of issuing a threat to veto the entire bill and vowed to work with lawmakers to strike a compromise.

In a formal statement of administration policy, the White House repeated its long-standing view that while it shares the overall policy of stemming unfair currency practices among its trading partners, it cannot support approaching the issue in the context of U.S. trade remedy laws.

"Those provisions would undermine our international efforts to address this issue, raise...

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