US considers currency undervaluer duties

The US Commerce Department says it is proposing a rule to impose countervailing duties on countries that undervalue their currency.

The US Commerce Department says it is proposing a rule to impose countervailing duties on countries that undervalue their currency relative to the US dollar.

"This change puts foreign exporters on notice that the Department of Commerce can countervail currency subsidies that harm US industries," Commerce Secretary Wilbur Ross said in a statement.

"Foreign nations would no longer be able to use currency policies to the disadvantage of American workers and businesses."