US may try new tactic to fight 'currency manipulation' by

The Trump administration is exploring a new tactic to discourage China from undervaluing its currency that falls short of a direct confrontation, a media report said, signaling softening of America's stance against China on the issue.
Under the plan, the commerce secretary would designate the practice of currency manipulation as an unfair subsidy when employed by any country, instead of singling out China, The Wall Street Journal said, citing people involved in formulating the policy.
Once such a decision is taken by the US Government, companies would then be in a position to bring anti-subsidy actions themselves to the Commerce Department against China or other countries, the financial daily said.

The currency plans are part of a China strategy being assembled by the White House's new National Trade Council, which seeks to balance the goals of challenging China while still keeping relations with the country on an even keel, the daily said.
"To do that, measures taken against China would also apply to other nations," it said.
The latest reported move is seen as a climb down from the previous stance of the President Donald Trump, who during his election campaign had said that he would designate China a currency manipulator on the first day of his presidency.

He had also promised to slap a tax of as high as 45 per cent on import of Chinese products, of China does not fix its currency valuation.

The daily warned that the countries might drag US to World Trade Organisation on its currency move or the US could face similar retaliatory measure from other countries as well.
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In Tokyo, Tillerson will meet Prime Minister Shinzo Abe and his Japanese counterpart.
"This trip builds on Prime Minister Abe's visit with President Trump in Washington and in Mar-a-Lago in Florida on February 10 through 12," the official said, adding that strong US-Japan relations serve as the cornerstone of peace and security in the Asia Pacific region.
"So in Tokyo, of course, the Secretary will discuss our shared regional and global objectives, including strengthening security cooperation within the US-Japan alliance, working together to enhance a rules-based approach to the maritime domain, and particularly exploring efforts to deepen US-Japan and ROK trilateral cooperation in the face of North Korea's dangerous pursuit of weapons programmes," the official said.

In Seoul, Tillerson will meet with acting President Hwang Kyo-ahn and the Foreign Minister.
In Beijing, his third and final stop, Tillerson would hold a wide range of talks with Chinese officials.
"We're pursuing a constructive and results-oriented relationship with China, one that benefits the American people, remains faithful to our allies, and presses China to abide by international rules and norms," the official said.
"We expect that each of these stops on Secretary Tillerson's first visit to Asia will be forward-looking and will involve discussions of ways to strengthen our cooperation in order to advance the security and economic well-being of the American people. The visit will be the first of many in what we envision will be close, ongoing working relationships," the senior administration official said.