Commerce Rule Allowing Duties for Currency Manipulation Goes Live

Domestic producers of steel, lumber, and host of other manufactured goods can now seek Commerce Department assistance to target and impose duties on imports subsidized by countries through currency manipulation.

The action is part of a final rule that responds to complaints from some U.S. manufacturers that imports such as steel, laminate wood flooring, washing machines benefit from undervalued currencies.

While cheered by steel producers as long overdue, some U.S. critics of the move say Commerce lacks the legal authority to use currency policy in subsidy cases and predict legal challenges.

Tim Brightbill, partner at Wiley Rein LLP and chair ...