{"id":1511709,"date":"2022-06-12T00:07:01","date_gmt":"2022-06-12T04:07:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1511709"},"modified":"2022-06-12T00:07:05","modified_gmt":"2022-06-12T04:07:05","slug":"u-s-places-taiwan-vietnam-on-monitoring-list-for-possible-currency-manipulation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-places-taiwan-vietnam-on-monitoring-list-for-possible-currency-manipulation\/","title":{"rendered":"U.S. Places Taiwan, Vietnam on Monitoring List for Possible Currency Manipulation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-places-taiwan-vietnam-on-monitoring-list-for-possible-currency-manipulation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1511709&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The U.S. Treasury has placed <a href=\"https:\/\/www.theepochtimes.com\/t-taiwan\">Taiwan<\/a> and <a href=\"https:\/\/www.theepochtimes.com\/t-vietnam\">Vietnam<\/a> on its monitoring list for possible currency manipulation due to the countries exceeding thresholds over the four quarters through December 2021.<\/p>\n<p>The Treasury Department released its semi-annual currency report on Friday (<a href=\"https:\/\/home.treasury.gov\/system\/files\/136\/FINAL_Spring_2022_FXR.pdf\">pdf<\/a>), which assessed the U.S. major trading partners against thresholds that determine whether a country\u2019s exchange rate had been manipulated to gain an unfair advantage in international trade.<\/p>\n<p>It stated that Taiwan and Vietnam exceeded the thresholds of fewer than three criteria established under the 2015 Act over the four quarters through December 2021.<\/p>\n<p>\u201cThough Vietnam and Taiwan no longer meet all three criteria for enhanced analysis, Treasury will continue to conduct an in-depth analysis of these economies\u2019 macroeconomics and exchange rate policies until they do not meet all three criteria under the 2015 Act for at least two consecutive Reports,\u201d it stated.<\/p>\n<p>In March, the Taiwanese central bank said it bought a net $9.12 billion last year to intervene in the foreign exchange market, down from a net $39.1 billion for all of 2020 and equating to 1.2 percent of GDP, not exceeding the U.S. Treasury\u2019s threshold of 2 percent to be named a manipulator.<\/p>\n<p>But Taiwan\u2019s trade surplus with the United States hit $40.2 billion last year, a historic high and up almost 30 percent compared with 2020. Taiwan\u2019s current account surplus last year was 14.8 percent of GDP. Both exceed the Treasury\u2019s criteria for possible currency manipulation.<\/p>\n<p>Switzerland exceeded the thresholds for possible currency manipulation over the four quarters through December 2021, according to the report, but the country was not added to the Treasury\u2019s monitoring list.<\/p>\n<p>The Treasury said it will continue its enhanced bilateral engagement with Switzerland, which commenced in early 2021, to discuss the country\u2019s policy options to address the underlying causes of its external imbalances.<\/p>\n<p>The report also raised concerns about China\u2019s failure to publish foreign exchange intervention data and a broader lack of transparency about its exchange rate mechanism.<\/p>\n<p>The Treasury said that it would closely monitor the foreign activities of China\u2019s state-owned banks.<\/p>\n<p>Washington had placed 12 countries on its monitoring list, including China, Japan, Korea, Germany, Italy, India, Malaysia, Singapore, Thailand, Taiwan, Vietnam, and Mexico.<\/p>\n<p>Overall, the Treasury concluded that none of Washington\u2019s 20 major trading partner manipulated its exchange rate with the U.S. dollar to prevent effective balance payments adjustments or gain an unfair competitive advantage in international trade.<\/p>\n<p>\u201cThe administration continues to strongly advocate for our major trading partners to carefully calibrate policy tools to support a strong and sustainable global recovery. An uneven global recovery is not a resilient recovery,\u201d Treasury secretary Janet L. Yellen said in a <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0813\">statement.<\/a><\/p>\n<p><em>Reuters contributed to this report.<\/em><\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-aldgra-fredly\"><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Aldgra Fredly is a freelance writer based in Malaysia, covering Asia Pacific news for The Epoch Times. <\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Treasury has placed Taiwan and Vietnam on its monitoring list for possible currency manipulation due to the countries exceeding thresholds over the four quarters through December 2021.The Treasury<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1511709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1511709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1511709"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1511709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1511709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1511709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1511709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}