WASHINGTON—The U.S. will start talks with Taiwan to address the valuation of its currency and external imbalances, saying its central bank is actively intervening in the foreign-exchange market, the Treasury Department said Friday.
The department will continue similar talks with Vietnam and Switzerland, which were designated as currency manipulators by the Treasury under the Trump administration in January.
Departing from the Trump administration’s stance, the Treasury stopped short of designating the three currency manipulators.
“Treasury has determined that there is insufficient evidence to make a finding that Vietnam, Switzerland, or Taiwan manipulates its exchange rate for either of the purposes referenced” under a 1988 law on trade and competitiveness, the Treasury said.
The designations came in the Treasury’s semiannual report that analyzes foreign-exchange and economic policies of major U.S. trading partners. It was the first report issued under Treasury Secretary Janet Yellen.
