After China, now it’s India‘s turn to get on the United States (US) Treasury Department list for currency practices and macroeconomic policies monitoring. India has been put on the list citing an increase in the foreign exchange of the country in the first three quarters of the year 2017.
According to media reports, India has a $23 billion trade surplus with the US.
The semi-annual report to the US Congress names five countries that continue on the list from October. These countries are, China, Germany, Japan, Korea and Switzerland.
These countries remain on the list for two report cycles to ensure that any improvements in their performance is not due to temporary reasons.
China has been included in the list because as per the reports it constitutes $337 billion trade deficit with China.
Germany which is part of the European currency and does not have an independent control over its value has also been included in the list.
The US Treasury Department has asked these countries to implement necessary economic reforms to manage their respective surpluses.
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