September 29, 2015
By Steve Wishnia and Neal Tepel
In a letter sent Sept. 25, a bipartisan group of 158 House members urged President Barack Obama to add tough measures against currency manipulation to the proposed Trans-Pacific Partnership trade agreement. "In just the last month, three of our trading partners—China, Korea, and Vietnam—have each taken steps that have caused their currencies to weaken, disadvantaging American businesses," the letter said.
"If we let this go by, we're putting American workers, their jobs and their wages in jeopardy and we don’t want to do that," Rep. Rosa DeLauro (D-Conn.) said in a joint telephone press conference with Reps. Debbie Dingell (D-Mich.), Morgan Griffith (R-Va.), and Dave Brat (R-Va.). The group estimates that currency manipulation has cost up to 5 million American jobs, and said failing to include enforceable protections against it in the TPP would cost many more. Read more