US Adds Ireland, Switzerland to Currency Manipulation Watchlist

The U.S. Treasury, under President Donald Trump's administration, has added Ireland and Switzerland to its currency manipulation monitoring list due to their significant trade surpluses and macroeconomic policies that warrant close scrutiny. Ireland's large trade surplus, particularly in pharmaceuticals and technology, has drawn criticism from President Trump, who has expressed concerns about the impact on the U.S. economy and even considered imposing tariffs on Irish pharmaceutical imports. While no countries, including China, were officially labeled currency manipulators in the latest report, the U.S. issued a stern warning to China over its lack of transparency in exchange rate policies. The monitoring list, which also includes major economies such as Japan, South Korea, Germany, and Vietnam, aims to identify unfair trade advantages linked to currency practices. This increased scrutiny reflects the administration's America First trade policy and may strain diplomatic relations while prompting affected countries to reconsider their monetary policies. Ireland's repeated presence on the list underscores its growing external economic significance and the ongoing tensions in U.S.-Ireland trade relations.