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Barack Obama pressed to include currency in Pacific trade deal

The Obama administration faces pressure to include currency provisions in a new Pacific Rim trade pact, with Republicans and Democrats citing swings in the yen as cause for action.

The White House has been trying to avoid addressing the issue in talks with Japan and 10 other countries over a Trans-Pacific Partnership (TPP), since a bipartisan majority in Congress called last year for any resulting pact to include provisions to ban currency manipulation.

Toyota Expects Record Profit

Toyota Motor Corp. said it expects record profit in its current fiscal year, buoyed by a weaker yen that helps exports and a model lineup that is steaming ahead in the U.S.

The world’s largest auto maker by vehicle sales turned in another blockbuster quarter powered by sales of its profitable sport-utility vehicles in the U.S. Toyota’s July-September net profit rose 23% from a year earlier to ¥539 billion yen ($4.7 billion), topping profit at global rivals Volkswagen AG and General Motors Co.

The TPP’s Missing Ingredient

Looking for ways to stimulate economic growth and create jobs, US President Barack Obama’s administration is seeking to press ahead with the mega-regional free-trade deal known as the Trans-Pacific Partnership (TPP). But is the US going about it the right way?

Manufacturing Day 2014 - A time to recognize Chrysler, Ford and GM

 

Manufacturing Day 2014 - A Time to Recognize Chrysler, Ford and GM

Today, Oct. 3rd, Americans and businesses will come together across the nation to recognize the importance of manufacturers to the United States economy and communities in all 50 states. As Americans take note, there is no better example of the contribution of manufacturers to the nation than that made by Chrysler, Ford and GM.

Automakers seek free trade agreement with currency manipulation stipulations to grow sales in Asia

Automakers, including General Motors Co. and Ford Motor Co., are hopeful a free trade agreement with currency manipulation stipulations will help grow sales in markets such as Japan, Malaysia and Vietnam.

GM Chief Economist Mustafa Mohatarem said Wednesday that Japan is his biggest worry on getting a deal done.

“If Japan retains the ability to manipulate its currency, the largest market outside the U.S. in TPP (Trans-Pacific Partnership) will remain closed to the U.S.,” he said at a U.S. Commercial Service business forum in Detroit.

U.S., Japan ‘Really Making Efforts' To Strike Deal in Auto Talks, Mori Says

he U.S. and Japan are “really making efforts to strike a deal” as soon as possible in bilateral auto negotiations related to the Trans-Pacific Partnership (TPP), Japanese TPP Ambassador Takeo Mori said Sept. 5.

In remarks to reporters following three days of negotiations with acting Deputy U.S. Trade Representative Wendy Cutler in Washington, Mori said that the talks are at the “endgame” stage, but he declined to estimate when they would be concluded.