Commerce won't start investigations into China currency

"The allegations made by domestic producers do not meet the statutory standard for initiating an investigation," Commerce deputy assistant secretary Ronald Lorentzen said in a statement.

If the industries make a better argument in the matter, the department said it may consider using countervailing duties against China's exchange rate.

House Ways and Means Chairman Sandy Levin (D-Mich.) said his panel would examine that possibility and "other courses of action" at a Sept. 15 hearing on China's exchange rate policy.