No currency manipulator labels from US, China on watch

Us Treasury

PHOTO: United States Treasury Building, Washington D.C., Photo Date: 8/12/2012
Credit: Rchuon24 / Wikimedia / CC BY-SA 3.0

WASHINGTON (AP) — The Biden administration will not designate any country as a currency manipulator, but it did name China, Vietnam and Taiwan among the nations that have failed to live up to global agreements not to use their currencies to gain unfair trade advantages.

In a report to Congress released Friday, the Treasury Department cited China for a number of failures that prevent trading partners from gaining full knowledge of how it is manages its currency.

Vietnam and Taiwan have violated a number of criteria that would justify naming them as currency manipulators and both will be placed on a monitoring list, according to the report.

Categories: National News