WTO to Hold Seminar on Exchange Rates and Trade
The World Trade Organization’s Working Group on Trade, Debt and Finance has scheduled for no later than the end of March 2012 a seminar on the economics of the relationship between exchange rates and trade. The seminar will allow for further discussion of issues raised in a September 2011 report examining the existing literature on this issue, including the effects of both exchange rate volatility and misalignment. However, the issue of how existing WTO trade remedy rules could be used to address currency fluctuations will not be addressed. Brazilian officials have been pressing the WTO to take up this topic, but according to press reports China objected.