Treasury Designates Vietnam, Switzerland as Currency Manipulators

Treasury Designates Vietnam, Switzerland as Currency Manipulators

By Kate Davidson
December 16, 2020, The Wall Street Journal

The U.S. Treasury Department labeled Switzerland and Vietnam as currency manipulators on Wednesday, saying the two countries had intervened in foreign-exchange markets in a persistent, one-sided manner to limit appreciations of their currencies.

“The Treasury Department has taken a strong step today to safeguard economic growth and opportunity for American workers and businesses,” Treasury Secretary Steven Mnuchin said in a statement. “Treasury will follow up on its findings with respect to Vietnam and Switzerland to work toward eliminating practices that create unfair advantages for foreign competitors.”

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