The US announces it is adding Switzerland to its currency manipulation watchlist.

In its latest report to Congress, the US Treasury Department added seven economies to its currency monitoring "blacklist," including China, Germany, and Switzerland.

The Swiss franc. (Photo: Reuters/VNA)

On June 16, the US Treasury Department released a "list of countries to be monitored for currency manipulation," which included Switzerland.

Switzerland was declared a currency manipulator by the US in December 2020, becoming a hot topic in discussions among US financial officials.

Last year, this European country was removed from the currency surveillance list.

In its latest report to Congress , the US Treasury Department added seven economies to its " blacklist ," including China, Germany, Switzerland, and others. Compared to the last announcement six months ago, Japan has been removed from this list.

Countries and territories are placed on the monitoring list if they meet two of the three criteria under the U.S. Trade Facilitation and Trade Enforcement Act of 2015, also known as the 2015 Act.

The three criteria include: a trade surplus with the United States exceeding $15 billion; a current account surplus exceeding 3% of a country's gross domestic product (GDP); and continuous, unilateral intervention in the foreign exchange market for at least eight months of a year with net purchases exceeding 2% of GDP over a 12-month period.

Phan An (VNA/Vietnam+)

Source: https://baodaknong.vn/my-tuyen-bo-dua-thuy-si-vao-danh-sach-giam-sat-thao-tung-tien-te-153021.html