But they could if the TPP is approved without a strong, enforceable currency manipulation provision.
Cheaters are never supposed to prosper — but that’s just what will happen if people like you don't make your voices heard.
You might have seen — maybe right here on this blog — that things are heating up in Washington over the proposed trade agreement known as the Trans-Pacific Partnership (TPP). At issue: Whether the TPP will prevent countries like Japan from manipulating their currency.
It’s cheating when countries like Japan drive down the value their currency to gain a trade advantage. These countries are gaming the system, and worse yet, by subsidizing exports they are shifting manufacturing away from America. That’s unfair to our workers and businesses who play by the rules in the open market.
Nearly 900,000 U.S. jobs were lost in 2013 alone due to America’s trade deficit with Japan, and Japan’s currency cheating is what helped grow the deficit. The TPP could make things much worse.