Mnuchin to communicate zero tolerance policy against currency devaluation
|As per Bloomberg report, US Treasury Secretary Mnuchin, in his debut appearance at G-20, is all set to talk about the zero tolerance policy against currency devaluation.
The report says, “Finance ministers and central bank governors of the world’s 20 key economies are scheduled to meet from March 17 in the spa resort of Baden-Baden in southern Germany.”
Trump administration intends to regain competitiveness in manufacturing and import jobs; hence a strong dollar due to competitive devaluation elsewhere is something undesirable.
“Mnuchin will also say that the American trade deficit is a sign other major economies aren’t doing their part to support global demand, making the world’s economic growth unbalanced, according to one of the people.”
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