In its latest report released to Congress, the US Treasury Department put seven economies on its currency monitoring "blacklist", including China, Germany and Switzerland.
On June 16, the US Treasury Department announced a "list of countries that need to be monitored for foreign currency manipulation," including Switzerland.
Switzerland was declared a currency manipulator by the US in December 2020 and became a hot topic in discussions among US financial officials.
Last year, the European country was removed from the currency monitoring list.
In the latest report released to Congress, the US Treasury Department put seven economies on the " blacklist ," including China, Germany, Switzerland... 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 out of three criteria under the US Trade Facilitation and Trade Enforcement Act of 2015, also known as the 2015 Act.
The three criteria include: a trade surplus with the US of more than 15 billion USD; a current account surplus exceeding 3% of a country's gross domestic product (GDP); and one-sided, continuous intervention in the foreign exchange market for at least eight months of a year with net purchases of more than 2% of GDP over a 12-month period./.
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