U.S. Treasury Reports No Currency Manipulation by Major Trading Partners in 2025
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">July 23 (Reuters) — The U.S. Treasury announced that no major trading partner manipulated its currency to secure an unfair trade advantage in 2025, though ten leading economies remain on an enhanced monitoring list for their foreign exchange practices.</p>
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">In its latest semi‑annual currency report, prepared under the Omnibus Trade and Competitiveness Act of 1988, the Treasury concluded that no major trading partner manipulated its exchange rate and that none satisfied all three criteria required for enhanced scrutiny of currency practices in 2025.</p>
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">The Treasury noted that ten economies are placed on its monitoring list because their currency practices and macroeconomic policies merit close attention — specifically China, Japan, Korea, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland, and Switzerland. All ten were also on the list in the January 2026 report.</p>
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">Countries are added to the list when they satisfy at least two of the three criteria defined by the Trade Facilitation and Trade Enforcement Act of 2015: a substantial bilateral trade surplus with the United States, a notable current account surplus, or persistent, one‑sided intervention in the foreign exchange market.</p>
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">The Treasury said that Thailand, Singapore, and Switzerland each satisfy only one of the three criteria and will be removed from the list if their scores remain below the threshold in the next report.</p>
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">Before the January report, the semi‑annual assessment primarily examined whether nations were conducting one‑sided currency interventions or other actions intended to resist dollar appreciation and thereby keep export prices low.</p>
<p class="text text-block paragraph text-left neo-font-paragraph-xl-reg yf-18d6y07 xx amp-wp-7e5328e" data-amp-original-style="text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;">Beginning this year, the Treasury indicated in January that it will now broadly monitor how economies that intervene to smooth exchange‑rate movements are doing so to counteract depreciation pressure, in line with its approach to resisting appreciation pressure.</p>
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<p><a href="https://finance.yahoo.com/markets/currencies/articles/us-treasury-finds-no-trading-200258754.html">Source link </a></p>
