WASHINGTON: The US Treasury Department on Friday (Apr 16) said Vietnam, Switzerland and Taiwan tripped its thresholds for possible currency manipulation under a 2015 US trade law, but refrained from formally branding them as manipulators.
In the first semi-annual foreign exchange report issued by Treasury Secretary Janet Yellen, the Treasury said it will commence “enhanced engagement” with Taiwan and continue such talks with Vietnam and Switzerland after the Trump administration labelled the latter two as currency manipulators in December.
Treasury said Taiwan, Vietnam and Switzerland exceeded its 2015 currency thresholds during 2020 – a more than US$20 billion bilateral trade surplus with the United States, foreign currency intervention exceeding 2 per cent of gross domestic product and a global current account surplus exceeding 2…
