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The US will not initiate an investigation into allegations about China's currency exchange rate. The Commerce Department announced on Tuesday that the allegations don't meet the statutory standard.
The accusations were made in the context of countervailing duties investigations of two Chinese products, aluminum extrusions and coated paper. US producers allege that China's currency practices constitute an unfair subsidy under U.S. countervailing duty law.
But the Commerce Department ruled that the allegations failed to meet the requirements for an investigation. However, in a preliminary decision, the Department did say that some aluminum products imported from China in 2009 were unfairly subsidized.