Tue 19 Feb 2019 / North America
Augmenting US Treasury foreign exchange report
The mid-April deadline for the next US Treasury report on the foreign exchange policies of major trading partners looms. The civil servants do an outstanding job, but can do even better. Since the passage of the 2015 Trade Facilitation and Trade Enforcement Act, the report has focused on whether the top 12 US trading partners have significant bilateral surpluses with the US, material current account surpluses, and engaged in persistent one-sided foreign exchange intervention. The Act does not preclude a more fulsome global economic discussion.