WASHINGTON — The Trump administration said Thursday that it planned to penalize countries that undervalue their currencies, the latest effort to prevent foreign competitors from trying to undercut American producers and import cheap goods into the United States.

Under a rule change proposed by the Commerce Department on Thursday, the United States would expand its ability to penalize countries that manipulate their currencies. The move, which could be aimed at China, Germany, South Korea and other countries, is likely to provoke controversy among foreign allies and could result in challenges at the World Trade Organization.

The department has proposed expanding a type of remedy that is typically used to levy tariffs on products that are determined to be unfairly subsidized by foreign governments. Under the proposed rule, so-called countervailing duties could be imposed when foreign governments “subsidize” their products by weakening their currencies relative to the United States dollar, the department said.

The Trump administration has argued that countries like China and Germany have built up their manufacturing industries in part by underpricing their currencies, which makes their goods artificially cheaper abroad. Officials say that has incentivized companies to locate their factories outside the United States and encouraged American consumers to buy more foreign products.