US Treasury semi-annual report: No country is listed as a currency manipulator

On June 6, the US Treasury submitted to Congress its semi-annual report on the macroeconomic and foreign exchange policies of major trading partners of the United States. In the report, the Treasury Department reviewed and assessed the policies of major trading partners of the United States, which account for about 78% of the United States' foreign trade in goods and services, for the four quarters ended December 2024. The review found that no major trading partner of the United States manipulated the exchange rate between its currency and the U.S. dollar for the four quarters ended December 2024. Currently, there are nine economies on the Treasury Department's "monitoring list" of major trading partners, which includes: Japan, South Korea, Singapore, Vietnam, Germany, Ireland, and Switzerland, among others.