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States will impose duties on the countries, which underestimate exchange rates

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States will impose duties on the countries, which underestimate exchange rates
May 24
09:00 2019

The US Department of Commerce has presented a proposal to impose additional duties on the countries, which artificially underestimate the rates of their national currencies against the dollar. This statement was made by the Minister of Commerce Wilbur Ross.

The Department said that in that way they would compensate for the losses of the American industry. It was also added that foreign partners would no longer be able to apply monetary policy to the detriment of workers and US companies.

Analysts say that first of all, sanctions will be imposed on the countries such as China (which has long been accused by America of deliberately underestimating the yuan), Japan, South Korea, India, Switzerland and Germany.

A little earlier Bloomberg suggested that Russia could be included in this list.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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