The U.S. Treasury Department refrained from designating any U.S. trading partner as a manipulator of its exchange rate to gain an unfair trade advantage, while warning that Switzerland met three criteria for designation.
"Treasury will continue its enhanced bilateral engagement with Switzerland, which commenced in early 2021, to discuss the Swiss authorities' policy options to address the underlying causes of its external imbalances," the department said Friday in a statement accompanying its semiannual report to Congress on macroeconomic and foreign exchange (FX) policies of major U.S. trading partners.
Taiwan and Vietnam, which had met the three criteria in the December report, no longer were in that category, the Treasury said. Switzerland had dropped off that list in December. Russia wasn't included in the report as it's not considered a major U.S. trading partner.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
