US Treasury Places 10 Countries on Currency Manipulation Watch List

The US Treasury has placed ten countries on its 'Monitoring List' due to concerns about currency manipulation that could impact American goods and services. The list, released in a semiannual report, includes major trading partners such as China, Japan, Korea, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland, and Switzerland.

The Treasury assessed the policies of major US trading partners representing nearly 80% of US foreign trade in goods and services during the review period. According to US Treasury Secretary Scott Bessent, unfair currency practices have negatively impacted the US trade deficit and manufacturing employment over the years.

Bessent emphasized that excessive foreign exchange interventions to artificially lower a currency's value impose hardships on American workers and businesses. The report concluded that no major US trading partner had manipulated its currency exchange rate with the US dollar for unfair trade advantage during the review period, but placed these ten countries under close monitoring.