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Currencies

US starts pushing Taiwan to address undervalued currency

Treasury says island exceeds threshold but stops short of calling it a manipulator

U.S. Treasury Secretary Janet Yellen: The Treasury Department said it will continue its "enhanced engagement" with Vietnam and begin such engagement with Taiwan.   © Reuters

WASHINGTON -- The U.S. Treasury said Taiwan, along with Vietnam and Switzerland, have engaged in market interventions to keep their currencies undervalued in the department's semiannual foreign exchange report released Friday, but stopped short of naming them currency manipulators.

Taiwan joins Vietnam and Switzerland as countries meeting the criteria under a 2015 U.S. currency manipulation law. Despite its finding, Treasury said there is insufficient evidence to conclude that they are manipulating their exchange rates.

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