The United States Treasury Department has just put the country of Switzerland on their list of rogue nations that are manipulating currency (the Swiss franc) in a manner that is harmful to United States financial markets. At the same time, the Treasury Department also announced that they were taking China off that same list. Apparently now that trade talks with the Chinese are seen by the Trump administration to be going so well, it would thought prudent to remove them from a ‘naughty’ list in order to help them save face. Such economic flim flam has been done many times before by the Treasury Department, such as when they placed Mexico on the same list several years ago while removing Russia from it after Trump met with Putin.
Does the listing really have any bite or sting to it? The Swiss National Bank (SNB), which decides all major financial policy for the land-locked nation of Switzerland, has not responded to requests from journalists for a statement on this new development, but most financial experts say that the Swiss are very careful about the volatility of their currency and will safeguard it rigorously even if it means incurring the ill-will and displeasure of an economic powerhouse like the United States.