Matthew P. Goodman, Dylan Gerstel
On April 16, the U.S. Treasury Department issued its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, the first release during the Biden administration and under Secretary Yellen. In this latest “FX report,” Treasury declined to designate any country for currency “manipulation,” reversing its December 2020 designation of Switzerland and Vietnam. However, it concluded that Switzerland and Vietnam, as well as Taiwan, met three criteria to trigger “enhanced engagement” to “address underlying causes” of currency undervaluation and external imbalances.
https://www.csis.org/analysis/no-currency-manipulators-bidens-first-fx-report
