June 4, 2019 / 2:58 PM / 3 months ago

Central bank policy won't be subject to new U.S. duties-Treasury official

WASHINGTON, June 4 (Reuters) - The Trump administration does not intend to make central bank monetary policy actions subject to countervailing duties as part of a new Commerce Department rule targeting undervalued currencies as unfair subsidies, a U.S. Treasury official said on Tuesday.

The official, speaking to reporters ahead of a meeting of G20 finance leaders this weekend in Fukuoka, Japan, said that the new rule, would be consistent with the U.S. laws that the Treasury uses to evaluate whether trading partners manipulate their currencies for an export advantage. Commerce is now collecting public comments for the rule. (Reporting by David Lawder and Andrea Shalal)

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