Profile picture
Headsnipe01 @Headsnipe011
, 13 tweets, 4 min read Read on Twitter
Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States

@drawandstrike @HNIJohnMiller @catesduane @rising_serpent @_ImperatorRex_ @Debradelai @GodlessNZ @almostjingo @tracybeanz @TheChiIIum

home.treasury.gov/news/press-rel…
Washington – The U.S. Department of the Treasury today delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.
The Report concluded that while the currency practices of six countries were found to require close attention, no major U.S. trading partner met the relevant 2015 legislative criteria for enhanced analysis during the period covered by the Report.
Further, no trading partner was found to have met the 1988 legislative standards during the current reporting period.
“The Treasury Department is working vigorously to ensure that our trading partners dismantle unfair barriers that stand in the way of free, fair, and reciprocal trade. Of particular concern are China’s lack of currency transparency and the recent weakness in its currency.
These pose major challenges to achieving fairer and more balanced trade, and we will continue to monitor and review China’s currency practices, including through ongoing discussions with the People’s Bank of China,” said U.S. Treasury Secretary Steven T. Mnuchin.
While China’s exchange rate practices continue to lack transparency, Treasury estimates that direct intervention by the People’s Bank of China this year has been limited. However, recent depreciation of the renminbi will likely exacerbate China’s large bilateral trade surplus...
with the United States. Treasury places significant importance on China adhering to its commitments to refrain from engaging in competitive devaluation and to not target China’s exchange rate for competitive purposes.
China could pursue more market-based economic reforms that would bolster confidence in the renminbi.
Treasury found that six major trading partners continue to warrant placement on the “Monitoring List” of major trading partners that merit close attention to their currency practices: China, Germany, India, Japan, Korea, and Switzerland.
Today’s Report is submitted to Congress pursuant to the Omnibus Trade and Competitiveness Act of 1988, 22 U.S.C. § 5305, and Section 701 of the Trade Facilitation and Trade Enforcement Act of 2015, 19 U.S.C. § 4421.
Treasury is working actively across a broad range of areas to help ensure that trade expands in a balanced way that protects U.S. firms and workers against unfair foreign trade practices.
The United States is committed to working towards a fairer and more reciprocal trading relationship with China. To this end, we are engaging China to address its market-distorting policies and practices.

For more information, navigate to the Report

home.treasury.gov/system/files/2…
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Headsnipe01
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!