Sources: The U.S. is not seeking a devaluation of the dollar in tariff negotiations.

On May 15, sources revealed that U.S. officials engaged in global trade agreement negotiations are not attempting to include commitments on exchange rate policies in the terms of the agreement. The forex market is experiencing significant fluctuations due to concerns that the Trump administration intends to push for a depreciation of the dollar or to achieve that goal through trade negotiations. On Wednesday, the Korean won surged nearly 2% against the dollar, the yen also strengthened, and earlier this month, the New Taiwan Dollar saw its largest rise in decades. The source stated that U.S. Treasury Secretary Mnuchin is the only member of Trump's economic team responsible for exchange rate matters and has not authorized other officials to engage in exchange rate policy consultations with trade partners; related negotiations will only occur when he personally participates. (Jin10)