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Trade

Trump administration lands parting shot on Vietnam over currency

Biden treasury pick Janet Yellen likely to lead less combative approach

Treasury Secretary Steven Mnuchin speaks at a House Financial Services Committee hearing on Dec. 2.   © Reuters

NEW YORK -- The U.S. Treasury Department has designated Vietnam as a currency manipulator in the final stretch of President Donald Trump's global trade offensive, and added Taiwan, Thailand and India to its currency monitoring list.

In its semiannual report submitted to Congress Wednesday, the Treasury accused Vietnam of devaluing its currency for "purposes of preventing effective balance of payments adjustments and gaining unfair competitive advantage in international trade."

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