US puts Switzerland on watch list of trading partners
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US puts Switzerland on watch list of trading partners
The United States Treasury Department has placed Switzerland on a watch list for currency and economic practices, along with eight other countries.
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Switzerland and the eight other countries have a large trade surplus, according to a report by the US Treasury Department on the United States’ most important trading partners. The report was first reported by Swiss radio and television.
According to the report, Ireland and Switzerland are new additions to the list. Switzerland’s trade surplus with the US increased last year, according to the report. China, Japan, Korea, Taiwan, Singapore, Vietnam and Germany are also listed.
The aim of the ministry is to take action against unfair currency practices. Last year, however, no major US trading partner manipulated the exchange rate of its currency against the US dollar in order to gain a competitive advantage in international trade.
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Switzerland branded as currency manipulator by US
Translated from German by DeepL/mga
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