Most interventions by major US trading partners continue to be in the form of selling dollars, actions that strengthen their currency and weaken the dollar.
The report reviewed and assessed the policies of major trading partners, comprising about 78 per cent of US foreign trade in goods and services last year.
Seven economies are on the department’s ‘Monitoring List’ of major trading partners that merit close attention to their currency practices and macroeconomic policies: China, Japan, Malaysia, Singapore, Taiwan, Vietnam and Germany.
The report also reiterated the department’s call for increased transparency from China.
“China’s failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate policy make China an outlier among major economies and warrant Treasury’s close monitoring,” the department said in a release.
Fibre2Fashion News Desk (DS)