U.S. Treasury removes Malaysia from currency manipulation watch in final Biden report
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On November 15, 2024, the U.S. Treasury Department announced that Malaysia has been removed from the currency manipulation watch list in its final semi-annual report under President Biden, which covers the year ending June 30. South Korea was added to the list due to its large global current account surplus and significant trade deficit with the U.S. No major U.S. trading partner was found to have manipulated its currency during this period. The report highlighted ongoing concerns about China's foreign exchange practices, keeping it on the monitoring list along with Japan, South Korea, Taiwan, Singapore, Vietnam, and Germany. The report noted Japan's US$65 billion trade surplus with the U.S. and its interventions to support the yen's value. The Biden administration's approach contrasts with Trump's previous declarations of currency manipulation against Vietnam and Switzerland.

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https://www.nst.com.my/business/economy/2024/11/1134654/us-treasury-removes-malaysia-currency-manipulation-watch-final