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REPORT TO CONGRESS Macroeconomic and

R EP O RT TO CO NG R E SS. Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States DEPARTMENT OF THE TREASURY. OFFICE OF INTERNATIONAL AFFAIRS. April 2021. Contents EXECUTIVE SUMMARY .. 1. SECTION 1: GLOBAL ECONOMIC AND EXTERNAL DEVELOPMENTS .. 6. ECONOMIC TRENDS .. 6. ECONOMIC DEVELOPMENTS IN SELECTED MAJOR TRADING PARTNERS .. 15. ENHANCED ANALYSIS UNDER THE 2015 ACT .. 40. SECTION 2: INTENSIFIED EVALUATION OF MAJOR TRADING PARTNERS ..54. KEY CRITERIA .. 54. SUMMARY OF 58. GLOSSARY OF KEY TERMS IN THE REPORT ..60. This REPORT reviews developments in international economic and exchange rate policies and is submitted pursuant to the Omnibus Trade and Competitiveness Act of 1988, 22.

balance of payments adjustments or gaining unfair competitive advantage in international trade. In the December 2020 Report, Treasury found that Switzerland and Vietnam each met the standards for currency manipulation for the four quarters through June 2020. For the four quarters ending in 2020, based on initial enhanced engagements with ...

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