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Macroeconomic And Foreign Exchange Policies Report : US

The Report On Macroeconomic And Foreign Exchange Policies Of Major Trading Partners Of The United States:

 

The U.S. Treasury has released the report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. The April 2021 edition of the semi-annual report is the first from the Biden administration.

  • The report is submitted to the U.S. Congress and reviews currency practices of the U.S.’s 20 biggest trading partners.
  • Three criteria are used to review partners:
    • A significant (at least $20 billion) bilateral trade surplus.
    • A material current account surplus.
    • Persistent one-sided intervention in forex markets.

Highlights of the latest report:

  • India is one of the 11 countries on the ‘Monitoring List’ with regard to their currency practices.
  • India was on the list in the December 2020 report as well.
  • The other 10 countries on the list with India are China, Japan, Korea, Germany, Ireland, Italy, Malaysia, Singapore, Thailand, and Mexico.
  • India met two of the three criteria — the trade surplus criterion and the “persistent, one-sided intervention” criterion.
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