July 07, 2014
Vicki Needham

More than a dozen leading manufacturing groups on Thursday called on the Obama administration to include currency manipulation provisions in all future trade agreements, especially the Trans-Pacific Partnership (TPP).

The 13 groups, including the American Automotive Policy Council (AAPC), sent a letter to Treasury Secretary Jack Lew and U.S. Trade Representative Michael Froman, as TPP talks begin in Ottawa.

"The economic consequences of currency manipulation are enormous and widespread," the groups wrote.
“Several recent economic studies have estimated that undervalued currencies resulting from intervention have caused an increase in the U.S. trade deficit of up to $500 billion per year, which suppresses U.S. employment levels by 5 million jobs.”

In the joint letter, AAPC and its partners emphasized how unfair currency policies hurt U.S. workers, exports and economic growth.

Source
The Hill