US lifts Vietnam, Switzerland from currency manipulator list
The U.S. Treasury is removing Vietnam and Switzerland from the list of nations labeled as currency manipulators, reversing a decision made by the Trump administration in December
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The U.S. Treasury has removed Vietnam and Switzerland from the list of nations labeled as currency manipulators, reversing a decision made by the Trump administration in December.
In its semi-annual report to Congress on currency manipulation, the first under the Biden administration, the U.S. Treasury Department said Friday that no country currently meets the U.S. criteria as a manipulator. It said, however, that Vietnam, Switzerland, as well as Taiwan will be under enhanced monitoring.
The Treasury did not designate China as a currency manipulator, something the Trump administration had done in 2019 during a tense trade stand-off with the world's second largest economy.
The Treasury said Vietnam, Switzerland and Taiwan would be subject to “enhanced engagement" over currency issues, a lower designation that does not carry immediate risks of U.S. trade sanctions.