Treasury Department names Vietnam and Switzerland currency manipulators, but not China
According to the Ministry of Finance, the number of countries that meet some of the list’s criteria has increased to 10
The U.S. Treasury Department qualified Switzerland and Vietnam as currency manipulators and added three new names to the list of countries suspected of taking action to reduce the value of their currencies against the dollar.
As noted by the Ministry of Finance, until June 2020, these countries interfered in the activities of foreign exchange markets, trying to prevent effective adjustment of payments..
Moreover, the ministry’s semi-annual report states that Vietnam sought “in an unfair way to gain a competitive advantage in international trade.”.
Many analysts suggested that the US Treasury would describe the actions of Switzerland and Vietnam in a similar way..
The Ministry of Finance also said that its list of countries that meet certain criteria that allow them to be ranked as currency manipulators now includes 10 countries. Taiwan, Thailand and India added to the list.
Other countries included in the list are China, Japan, Korea, Germany, Italy, Singapore and Malaysia.