US says Switzerland exceeds currency thresholds, no manipulator tag

Treasury moved Taiwan and Vietnam to its “Monitoring List” of major trading partners that merit close attention to their currency practices, along with 10 other countries that remained on the list: China, Japan, South Korea, Germany, Italy, India, Malaysia, Singapore, Thailand and Mexico.

WASHINGTON: The U.S. Treasury Department on Friday said Switzerland continued to exceed its thresholds for possible currency manipulation under a 2015 U.S. trade law, but refrained from branding it - or any other country - a currency manipulator.

The Treasury said it would continue an enhanced bilateral engagement with Switzerland that began in early 2021 to discuss Swiss authorities' options to address the underlying causes of its external imbalances.