According to online reports, the U.S. Treasury Department submitted a semi-annual report to Congress on the macroeconomic and foreign exchange policies of major U.S. trading partners. In the report, the Treasury Department reviewed and evaluated the policies of the United States 'major trading partners for the four quarters ending December 2024, which accounted for approximately 78% of the United States' external trade in goods and services. The review found that for the four quarters ending December 2024, no major trading partner of the United States manipulated the exchange rate of its currency against the U.S. dollar. Currently, there are nine economies on the Ministry of Finance's major trading partner "watch list", including Japan, South Korea, Singapore, Vietnam, Germany, Ireland and Switzerland.