US Treasury says no trade partners manipulated currencies, Vietnam back on monitoring list

The U.S. Treasury on Tuesday said no major trading partner appeared to be manipulating its currency, but it put Vietnam back onto a foreign exchange "monitoring list," while removing Switzerland and South Korea from the same scrutiny. The Treasury's semi-annual currency report said that Vietnam, China, Germany, Malaysia, Singapore, and Taiwan were included on the monitoring list for the four quarters ended in June 2023. Treasury said Vietnam was returned to the monitoring list after its global current account surplus exceeded thresholds during the monitoring period.

The U.S. Treasury on Tuesday said no major trading partner appeared to be manipulating its currency, but it put Vietnam back onto a foreign exchange "monitoring list," while removing Switzerland and South Korea from the same scrutiny.

The Treasury's semi-annual currency report said that Vietnam, China, Germany, Malaysia, Singapore, and Taiwan were included on the monitoring list for the four quarters ended in June 2023.

Treasury said Vietnam was returned to the monitoring list after its global current account surplus exceeded thresholds during the monitoring period. China remains on the monitoring list due to lack of transparency for its foreign exchange practices. Both countries have large trade surpluses with the U.S.