International Trade

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.

Groups Call For Tough Policy on Foreign Currency Manipulation

Leaders from three manufacturing groups held a news conference, calling on Congress, the White House and trade negotiators to get tough on countries engaged in currency manipulation.

China is their primary target, having tied the value of its dollar to the U.S. dollar instead of allowing it to be determined in foreign exchange markets.

They said U.S. manufacturing may be on a post-recession rebound, but it's being undermined by China's, Vietnam's and a handful of other countries' practice of currency manipulation.

 

Manufacturers fight back against currency manipulation

Currency manipulation has a huge impact on manufacturers, says Bill Adler, president of Stripmatic Products Inc. in Cuyahoga Heights. Indeed, the past chairman of the Precision Metalforming Association thinks it's the biggest hurdle U.S. companies face when it comes to competing globally.

“We see and feel the direct impact of lost jobs, lost revenues because of unfair currency manipulation,” Adler said.