US manipulated the currency of Vietnam and Switzerland

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WORLD NEWS SUPERFAST

USA NEWS - On Wednesday, the United States Treasury marked Switzerland and Vietnam as currency manipulations. According to information received by World News Superfast, 10 other countries including China were placed on the watch list of countries devaluing their currencies to gain unfair trade advantage against the US.

One of the benefits of having a relatively cheap national currency is

According to information received by World News Superfast, this makes exports more attractive to buyers abroad who are buying those goods with a relatively strong currency. Washington has long conducted raids against suspected currency manipulators because it forces American goods and - significantly - American jobs to manufacture those goods - to the detriment of less expensive imports from competitors abroad.

The US Treasury concludes its seminary report to Congress

According to information received by World News Superfast, Vietnam and Switzerland had met all three criteria for currency manipulation, including heavily interfering with foreign exchange markets in four quarters through June 2020, resulting in unfair gains in trade Happened.

US Treasury Secretary Steven Menuchin said in a statement on the department's website

 The Treasury Department has taken a strong step today to protect economic growth and opportunity for American workers and businesses. According to information received by World News Superfast, the Treasury will follow its findings in relation to Vietnam and Switzerland to eliminate unfair profit-generating practices for foreign competitors.

Swiss National Bank pushed back on Treasury charges

According to information received by the World News Superfast, while issuing a statement said - it does not manipulate its currency. Its monetary policy outlook will remain unchanged. It also said - it is ready to intervene more strongly in the foreign exchange market. This is the final semi-annual report on currency manipulation produced by the outgoing administration of US President Donald Trump.