The Treasury Department said Friday it has retained Japan, China and four other nations on a list of countries it monitors over potentially "unfair" currency practices.
The department, however, concluded that no major U.S. trading partner is manipulating its currency to gain an unfair trade advantage, suggesting that President Donald Trump has backed away from his campaign pledge to label China a currency manipulator.
In a semiannual report to Congress, the department kept Japan, China, South Korea, Taiwan, Germany and Switzerland on the "monitoring list," saying the six nations warrant "close attention to their currency practices."