Japan Kept on U.S. Forex Monitoring List

Economy Politics

Washington, Oct. 17 (Jiji Press)--The U.S. Treasury Department said in a semiannual report on Wednesday that it has kept Japan, China and four other major trading partners of the United States on its "Monitoring List" over their foreign exchange policies.

The department stopped short of labeling China as a currency manipulator in the latest report, although U.S. President Donald Trump promised to do so during his election campaign.

In pursuit of "America first" protectionist policies, the Trump administration has been demanding each partner country address trade imbalances with the United States. The Treasury Department, through the new report, apparently tried to warn against the trading partners' possible efforts to devalue their currencies aimed at increasing export competitiveness.

"Treasury remains concerned by the persistence of the large bilateral trade imbalance between the United States and Japan," the report said.

On a real effective basis, the yen "remains near the historically weak levels it has hovered around since the first half of 2013," it said.

[Copyright The Jiji Press, Ltd.]

Jiji Press