The U.S. Department of the Treasury should transform its foreign currency report so it can be used as a tool to combat currency manipulation. This would be an important step toward a more balanced global economy with fewer persistent deficits and surpluses.
Vietnam's exports to the U.S. are growing fast.
It also runs an overall current account surplus. If it has resumed purchasing dollars in the foreign exchange market to keep its currency from appreciating, it may soon be a test case for Trump's policy toward countries that intervene to maintain an undervalued currency.
If Trump wants to set targets for China’s imports, he should focus on its imports of manufactures—not on getting tweetable deliverables out of the soybeans and oil that China will import (from someone) no matter what…