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U.S. Continues to List Taiwan on Currency Manipulation Watchlist, Adds Switzerland and Ireland

U.S. Continues to List Taiwan on Currency Manipulation Watchlist, Adds Switzerland and Ireland

The U.S. Treasury Department's report has included nine economies in its currency manipulation watchlist, consisting of Taiwan, China, Japan, and South Korea among others. The report states that Taiwan, China, and Japan, along with South Korea, will remain on the watchlist, with Switzerland and Ireland being newly added.

The report emphasizes that no major U.S. trading partners have been identified as currency manipulators. The watchlist comprises nine economies including Taiwan, China, Japan, South Korea, Singapore, Vietnam, Germany, Ireland, and Switzerland, with the U.S. Treasury continuously monitoring these economies' monetary policies and overall economic strategies. Treasury Secretary Mnuchin noted that the Trump administration has made it clear that economic policies leading to trade imbalances with the U.S. will no longer be accepted.

According to the report, Taiwan is required to publish its foreign exchange intervention data biannually, with a three-month delay. Taiwanese authorities should closely monitor the risks in the non-bank financial sector, and foreign exchange interventions should be limited.