The Wall Street Journal reports the White House is exploring a new tactic to discourage China from undervaluing its currency to boost exports. Under the plan, the commerce secretary would designate the practice of currency manipulation as an unfair subsidy when employed by any country, instead of singling out China, said sources. US companies would then be in a position to bring antisubsidy actions themselves to the US Commerce Department against China or other countries. The currency plans are part of a China strategy being assembled by the White House’s new National Trade Council, which seeks to balance the goals of challenging China while still keeping relations with the country on an even keel. The administration would avoid, at least for now, making confrontational claims about whether China is manipulating its currency for trade benefit, source said.
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