The head of the trade remedy Investigation Bureau of the Ministry of Commerce delivered a speech on the preliminary ruling of the United States on the so-called undervalued RMB exchange rate in the anti subsidy case against Warsaw belt

category:Finance
 The head of the trade remedy Investigation Bureau of the Ministry of Commerce delivered a speech on the preliminary ruling of the United States on the so-called undervalued RMB exchange rate in the anti subsidy case against Warsaw belt


The person in charge stressed that the exchange rate issue is beyond the jurisdiction of a member to conduct countervailing investigation in accordance with WTO rules. Article 15 of GATT clearly stipulates that when foreign exchange arrangements are involved, members shall consult with the International Monetary Fund, and the International Monetary Fund shall make a judgment. The U.S. Department of Commerce has no authority to make judgments across the IMF. China urges the US side to respect the existing international rules and multilateral trading system and stop the anti subsidy investigation on the so-called undervalued RMB exchange rate.