Modification of Regulations Regarding Benefit and Specificity in Countervailing Duty Proceedings (19 CFR Part 351, published in the Federal Register on February 4, 2020).Treasury Framework for Assessing Currency Undervaluation in CVD Investigations: Summary.Commerce intends to defer to Treasury’s expertise with respect to currency undervaluation. dollar as a result of government action on the exchange rate. Treasury will provide its assessment of whether and to what extent a currency is undervalued against the U.S. As described in the final modification of 19 CFR 351.528, published in the Federal Register in February 2020, Commerce will request that Treasury provide its evaluation and conclusion as to the extent of any undervaluation in the context of a countervailing duty proceeding in which Commerce is investigating whether there is a potential subsidy resulting from currency undervaluation. One of Treasury’s applied uses of GERAF is to assess currency valuations in the context of countervailing duty proceedings when requested by the Department of Commerce. TREASURY ASSESSMENTS OF CURRENCY VALUATION IN COUNTERVAILING DUTY PROCEEDINGS Global Exchange Rate Assessment Framework Methodology.Further detail on GERAF is provided in the methodology paper. This model-based framework provides a multilaterally consistent method for assessing external imbalances, exchange rate misalignments, and the role of policy in contributing to both. GERAF is a flexible tool created to assess currency valuations. Global Exchange Rate Assessment Framework Methodology
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