WASHINGTON – The U.S. will begin talks with Taiwan to address the appreciation of its currency and its external imbalances, saying its central bank is actively involved in the foreign exchange market, the Treasury Department said Friday.
The department will continue similar talks with Vietnam and Switzerland, which the Treasury designated as currency manipulators under the Trump administration in January.
Based on the Trump administration’s stance, the Treasury stopped designating the three currency manipulators.
“The Treasury has determined that there is insufficient evidence to determine that Vietnam, Switzerland or Taiwan are manipulating their exchange rate for any of the purposes it refers to” under a 1988 trade and competitiveness law, the Treasury said.
The appointments came in the Treasury’s semi-annual report that analyzes the economic and exchange rate policies of major U.S. trading partners. It was the first report issued by Treasury Secretary Janet Yellen.