Its Treasury Department said Friday that no country currently meets the U.S.’s criteria to be labeled manipulators, but warned that Vietnam, Switzerland and Taiwan would be under enhanced monitoring, according to newswire AP
.There is insufficient evidence to conclude they are manipulating their exchange rates, Reuters
quoted it as saying.A country is labeled a currency manipulator if it sells its currency and buys U.S. dollars to depreciate the former to benefit its exports.
"For calendar year 2020, we have not made a finding regarding the manipulation designation," a department official told reporters.
Vietnam had last December rejected the U.S.’s currency manipulator allegations, reiterating that its monetary policies do not target unfair trade advantages, and that it would continue to work with the U.S. to ensure a "harmonious and fair" trade relationship.