Currently, the US Treasury issues a twice-yearly report scrutinising possible currency manipulation. FMTNews
But since the mid-1990s, the department has never taken the final step of labelling a country as a manipulator, even in the years when China was very active in its efforts to keep the yuan weak.
If approved, Commerce could impose tariffs to offset the weaker exchange rate against the US dollar. The department is accepting comments from the public until June 27 and could implement the change any time after that. That ambiguity raises red flags for economists, many of whom believe Commerce does not have the technical expertise to make that evaluation.It also is notoriously difficult to calculate objectively whether a particular currency is undervalued and, if so, by how much.
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