US finds no currency manipulation by major trading partners but adds South Korea to monitoring list

Quick Summary:

US Treasury kept Singapore on the monitoring list, among others, while Malaysia was removed.

The report noted that despite a slight decline in China’s current account balance to 1.2 per cent of GDP, its export volumes had risen sharply, indicating a decline in export prices.

Trump also directed then-Treasury Secretary Steven Mnuchin to label China a currency manipulator in August 2019, a move made at the height of US-China trade tensions.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaGermanyJapanSouth KoreaMalaysiaSwitzerlandTaiwanUnited StatesVietnam

Topics: Report Surplus Foreign Exchange Trade Account Currency Treasury Department Trump Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-15 @ 08:47:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 808 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 23595664

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