Six lawmakers urge President Obama to include currency provisions in the TPP
Yesterday, a group of six lawmakers sent a letter to President Obama reiterating the need to include curruncy manipulation provisions in the Trans-Pacific Partnership. The lawmakers include: Senator Lindsey Graham (R-SC), Senator Debbie Stabenow (D-MI), Representative Rick Crawford (R-AK1), Representative John Dingell (D-MI12), Representative Sam Graves (R-MO6), and Representative Michael Michaud (D-ME2).
Following the conclusion of another round of Trans-Pacific Partnership (TPP) negotiations, we write to reiterate our serious concern that strong and enforceable currency disciplines have not yet been addressed in the ongoing negotiations and may not be included in the final agreement. A well-negotiated TPP has the potential to help American businesses and workers, but an agreement that fails to address foreign currency manipulation could further harm the United States economy by leading to a permanent unfair trade relationship.
As the letter states, this isn't the first time members of Congress have urged the administration to address currency in the TPP. 230 House members and 60 Senators (including some of the signees on yesterday's correspondence) sent letters last year to the president, Secretary of the Treasury Jack Lew and U.S. Trade Representative Michael Froman, encouraging the same action.
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