Asia

The Treasury Department on Wednesday again decided that China does not meet its definition of a currency manipulator, though its latest report to Congress on the currency practices of major U.S. trading partners says Beijing is of “particular concern” and will remain on a monitoring list along with Japan, South Korea, Germany, India and Switzerland.

“The size and continued expansion of China’s market creates enormous growth potential for LAC exporters (particularly in agriculture) that the U.S. market cannot match.”

“Since approximately half of the 1,660 MTB-eligible items are produced in China, there is overlap.”

Washington and Seoul will hold consultations under the auspices of the U.S.-Korea Free Trade Agreement to discuss revising the rules of origin for textile products that are not commercially available in either country.

Commerce is considering imposing duties ranging from 258.74 to 1,731.75 percent.

The Philippines' ambassador to the U.S., Jose Manuel Romualdez, has been meeting with U.S. lawmakers to address human rights concerns ahead of the start of trade talks between the two countries.

The Wisconsin Democrat decries “a roughly $59 billion total trade impact – almost double the approximately $32.5 billion of tariffs the U.S. has levied against Chinese imports under Section 301.”

The Office of the U.S. Trade Representative is expected to notify to Congress as soon as this week that the administration intends to formally launch trade negotiations with Japan, the European Union and the United Kingdom, according to several sources with knowledge of the plans.