Taiwan is not a currency manipulator: U.S.

Watch list includes China and India

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The latest U.S. Treasury report (image from Treasury Department website).

TAIPEI (Taiwan News) – Taiwan was not labeled a currency manipulator and not even put on a watch list in the latest half-yearly report from the United States government issued Friday.

While not a single country, not even China, was dubbed a currency manipulator, the communist country as well as India, Japan, Germany, South Korea and Switzerland were named as having “questionable trade practices.”

Amid threats of a looming trade war with China, the U.S. government report contained words of warning about a trade imbalance and “the increasingly non-market direction” of the country’s economic development, the Associated Press reported.

India was a newcomer on the watch list, due to a “significant bilateral goods surplus” with the U.S.

The language directed at China in the report was significantly less critical than President Donald Trump’s usual comments about Chinese government policies, the United Daily News reported.

The last time Washington dubbed a country a currency manipulator happened in 1994, with China being singled out by the administration of President Bill Clinton.

Taiwan featured on the watch list in 2016-2017, but mainly because its current-account deficit exceeded 3 percent, which gave rise to a suspicion of currency manipulation.