Key Facts
• June 5, 2025: U.S. Treasury released its semiannual currency report.
• Nine countries, including Japan and China, designated as ‘monitoring targets.’
• Ireland and Switzerland added since the November 2024 report.
• No countries identified as ‘currency manipulators.’
• Chinese yuan criticized for ‘lack of transparency’ in currency policies.
• Warning issued: Evidence of yuan intervention could lead to ‘currency manipulator’ designation.
Summary
The U.S. Treasury’s latest currency report, released on June 5, 2025, analyzed the currency policies of major trading partners. Nine countries, including Japan and China, were designated as ‘monitoring targets’ due to significant trade surpluses with the U.S. Ireland and Switzerland were newly added to the list since the previous report in November 2024. While no countries were labeled as ‘currency manipulators,’ the report criticized China’s currency practices for lacking transparency. The Treasury warned that evidence of intervention to prevent the yuan’s appreciation could result in China being designated as a ‘currency manipulator’ in the future.
