The currency allegations under review were made in the context of countervailing duties (CVD) investigations of two Chineseproducts – aluminum extrusions and coated paper.

“Two allegations before it that China’s currency practices constitute an unfair subsidy under United States countervailing duty law failed to meet the requirements for the initiation of an investigation,” the Commerce Department said in a statement.

“The currency decision was based on a careful evaluation of the specific legal arguments and evidence put before the department, in relation to the standards for the initiation of an investiga-tion under the CVD law,” Deputy Assistant Secretary for Import Administration Ronald Lorentzen said.

“In these two cases, the Department has determined not to investigate whether the alleged undervaluation of China’s currency, the yuan, is a countervailing subsidy,” the statement said.

Lorentzen said the department made the decision because “the allegations made by domestic producers do not meet the statutory standard for initiating an investigation under the requirement that benefits provided under China’s unified foreign exchange regime be specific to the enterprise or industries being investigated.”- Global Times