U.S. Keeps Japan, China on Forex Monitoring List

Economy Politics

Washington, May 28 (Jiji Press)--The U.S. Treasury Department said in a semiannual report Tuesday that it has kept Japan and China, both running major trade surpluses with the United States, on its "Monitoring List" over their foreign exchange policies.

With the designation, the U.S. government, under President Donald Trump's policy to place emphasis on reducing trade imbalances, aims to add pressure on Japan in their bilateral trade negotiations so as to prevent Tokyo from guiding the yen lower, pundits said.

Washington also aims to send a warning to China over the country's devaluation of its currency, the yuan.

Other major trading partners of the United States that stayed on the monitoring list were South Korea and Germany. Malaysia, Singapore, Vietnam, Ireland and Italy were newly added to the list.

The number of economies surveyed in the latest report increased to 21 from 12, with the addition of some Southeast Asian and European countries.

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