Xinhua, Washington :
US Treasury Department on Friday declared that no major trading partner of the U.S., including China, met the standard of manipulating its currency, while six economies were listed on its Monitoring List as their foreign exchange polices bear close monitoring.
In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, the Treasury Department concluded that no major trading partner of the United States, including China, has manipulated their currencies over the past six months to keep them undervalued.
However, it put China, China’s Taiwan, Japan, South Korea,, Germany, and Switzerland on its Monitoring List, saying their foreign exchange policies bear close monitoring.
The report said that China remained on the list because of its “disproportionate share of the overall U.S. trade deficit,” despite that China’s current account surplus was only 1.8 percent of GDP in 2016, sharply down from 2.8 percent of GDP in 2015.
U.S. President Donald Trump this week said in an interview that China hasn’t been manipulating its currency for months, a sharp reversal from his campaig rhetoric.
US Treasury Department on Friday declared that no major trading partner of the U.S., including China, met the standard of manipulating its currency, while six economies were listed on its Monitoring List as their foreign exchange polices bear close monitoring.
In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, the Treasury Department concluded that no major trading partner of the United States, including China, has manipulated their currencies over the past six months to keep them undervalued.
However, it put China, China’s Taiwan, Japan, South Korea,, Germany, and Switzerland on its Monitoring List, saying their foreign exchange policies bear close monitoring.
The report said that China remained on the list because of its “disproportionate share of the overall U.S. trade deficit,” despite that China’s current account surplus was only 1.8 percent of GDP in 2016, sharply down from 2.8 percent of GDP in 2015.
U.S. President Donald Trump this week said in an interview that China hasn’t been manipulating its currency for months, a sharp reversal from his campaig rhetoric.
