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

Politics

Washington, Dec. 3 (Jiji Press)--The U.S. Department of the Treasury said in a semiannual report released on Friday that it has kept Japan and China, which both run a large trade surplus with the United States, on its monitoring list over their currency practices.

No U.S. trading partner was designated as a currency manipulator, but the department urged Taiwan and Vietnam to take corrective action as they may be named as manipulators.

It was the second semiannual currency report to Congress published by the administration of U.S. President Joe Biden.

The administration of his immediate predecessor, Donald Trump, designated China, Vietnam and Switzerland as currency manipulators. But the Biden administration, which places emphasis on international coordination, made a policy reversal and called for remedial measures by the three countries.

A total of 12 countries were placed on the watch list, also including South Korea, Germany and Switzerland.

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