The U.S. Department of the Treasury released its semiannual report assessing macroeconomic and foreign exchange policies of major trading partners, covering 78% of U.S. foreign trade in goods and services. Secretary Scott Bessent emphasized strengthened analysis of currency practices under President Trump’s America First Trade Policy. The report found no major trading partner manipulated exchange rates to gain unfair advantages during the period. China, however, was noted for lacking transparency in its exchange rate policies. Ten economies, including China, Japan, and South Korea, are on Treasury’s Monitoring List. The report, submitted under U.S. law, highlights enhanced scrutiny of currency smoothing practices, capital controls, and central bank interventions. China’s large external surpluses and undervalued currency remain areas of focus for potential designation as a currency manipulator.
https://home.treasury.gov/news/press-releases/sb0373
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