In its semi-annual report on forex and macro-economic policies of big trade partners of the US to the Congress, on April 16, the US Treasury said that no country currently meets the US criteria for a manipulator. It said that Vietnam, Switzerland and Taiwan (China) will be under enhanced monitoring, which means those countries and territories will not immediately face US sanctions.
Within the report, the first of the Biden administration, China is not designated as a currency manipulator either. The Trump administration put China on the list in 2019 during a trade stand-off between the world’s two biggest economies.
