Taiwan’s trade surplus

with the United States is significantly smaller than

Washington estimates, the economics minister

said, a point it hopes to press in its bid to get off

the US Treasury’s watch list of potential

currency manipulators.

“This issue has been discussed in several policy

rate-setting meetings by the Central Bank, and

we’ve explained to the US there are differences

in the way we calculated the numbers,” Minister of

Economic Affairs Lee Chih-Kung, who sits on the

central bank’s board, told media.

Taiwan, which was mentioned by the Treasury

last October, appeared again along with China,

Japan, South Korea, Switzerland and Germany on

the latest list published last week.

The semi-annual US Treasury currency report

has singled out the trading partners, to curb what

the US calls “unfair currency practices”.

Taiwan’s central bank, concerned about being

labelled a currency manipulator by President

Donald Trump, has pulled back on intervention to

weaken the Taiwan dollar.