US brands Vietnam, Switzerland as currency manipulators

WASHINGTON (AP) — The U.S. Treasury Department has branded Vietnam and Switzerland as currency manipulators while putting China and nine other countries on a watch list in an annual report designed to halt countries from manipulating their currencies to gain unfair trade advantages. It marked the first time that the United States has labeled another country as a currency manipulator since August 2019 when it called out China. The Treasury report said that Vietnam and Switzerland were the only two countries that met all three criteria for being named a currency manipulator. The designation will trigger special negotiations over the next year. If they are not successful in resolving the currency complain, the United States can move forward to impose economic sanctions on Vietnam and Switzerland.