Taiwan To Buy More From U.S. As Seeks To Head Off Currency Manipulator Label

Taiwan's central bank and Ministry of Economic Affairs have set up a group to coordinate stepped up purchases of U.S. goods, two sources said, as it seeks to narrow its trade surplus and head off being labelled a currency manipulator.

Taiwan was last labelled a currency manipulator by the United States in December 1992 and was then on the U.S. Treasury monitoring list in 2016 and 2017.

Taiwan's trade surplus with the United States this year is expected to pass $20 billion, meeting one of the criteria Washington uses to decide the monitoring list for a currency manipulator.

Taiwan's current account surplus is 11% of GDP, which also matches other criteria to be labelled a currency manipulator, as the threshold is 2%.

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