April 16, 2024
Finance
US may designate Korea as currency manipulator: KIEP
[THE INVESTOR] The US government will designate South Korea as a currency manipulator after putting China on the list in the first half of this year, a report said on Jan. 5.
“In order to name China as a currency manipulating country, the US has to ease the current standards or lay down new rules,” said the report released by the state-run Korea Institute for International Economic Policy.
“Should it happen, it is highly likely that South Korea will be designated as a currency manipulator.”
In April last year, the US Treasury Department put five countries, including China and South Korea, on its monitoring list, citing that the countries have a significant bilateral trade surplus with the United States and are suspected of having intervened to resist depreciation of the local currency.
None of them, however, met three criteria to become a currency manipulator.
The KIEP report predicted that the Trump administration will take action in the first half in accordance with his motto of “America first.”
(theinvestor@heraldcorp.com)
“In order to name China as a currency manipulating country, the US has to ease the current standards or lay down new rules,” said the report released by the state-run Korea Institute for International Economic Policy.
“Should it happen, it is highly likely that South Korea will be designated as a currency manipulator.”
In April last year, the US Treasury Department put five countries, including China and South Korea, on its monitoring list, citing that the countries have a significant bilateral trade surplus with the United States and are suspected of having intervened to resist depreciation of the local currency.
None of them, however, met three criteria to become a currency manipulator.
The KIEP report predicted that the Trump administration will take action in the first half in accordance with his motto of “America first.”
(theinvestor@heraldcorp.com)
