Commerce won’t start investigations into China currency

by Vicki Needham - 08/31/10 11:19 PM ET

“The allegations made by domestic producers do not meet the statutory standard for initiating an investigation,” Commerce deputy assistant secretary Ronald Lorentzen said in a statement.

If the industries make a better argument in the matter, the department said it may consider using countervailing duties against China’s exchange rate.

House Ways and Means Chairman Sandy Levin (D-Mich.) said his panel would examine that possibility and “other courses of action” at a Sept. 15 hearing on China’s exchange rate policy.

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