Categories: U.S. Treasury

Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States

Washington – The U.S. Department of the Treasury today delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.  In this Report, Treasury reviewed and assessed the policies of 20 major U.S. trading partners.  Treasury also assessed developments over the last several months with China and its currency practices.

The Report concluded that while the currency practices of ten countries were found to require close attention, no major U.S. trading partner at this time met the relevant 1988 or 2015 legislative criteria for currency manipulation or enhanced analysis. 

“The Treasury Department has helped secure a significant Phase One agreement with China that will lead to greater economic growth and opportunity for American workers and businesses,” said U.S. Treasury Secretary Steven T. Mnuchin.  “China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability.”

Treasury found that ten major trading partners warrant placement on Treasury’s “Monitoring List” of major trading partners that merit close attention to their currency practices:  China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, Switzerland, and Vietnam.

Today’s Report is submitted to Congress pursuant to the Omnibus Trade and Competitiveness Act of 1988, 22 U.S.C. § 5305, and Section 701 of the Trade Facilitation and Trade Enforcement Act of 2015, 19 U.S.C. § 4421.  Treasury continues to work actively to dismantle unfair barriers to trade and achieve freer and more reciprocal trade with major U.S. trading partners.  This includes combatting unfair currency practices that facilitate competitive advantage, such as unwarranted intervention in currency markets. 

For more information: January 2020 Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States

 

###

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Issues Final Rule Expanding CFIUS Coverage of Real Estate Transactions Around More Than 60 Military Installations

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury), as Chair of the Committee…

2 days ago

U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and…

2 days ago

Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2023

Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities…

3 days ago

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

3 days ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

3 days ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

3 days ago