Trans-Pacific Partnership

U.S. automakers: Korea’s interest in TPP should spur currency provisions

South Korea’s interest in joining the Trans-Pacific Partnership is yet another reason why a final trade pact should include strong, enforceable rules prohibiting currency manipulation, say American automakers.

“The Korean government has intervened frequently in the foreign exchange markets to manage the value of the won to gain or retain a competitive advantage,” American Automotive Policy Council President Matt Blunt says in a statement released today.

The AAPC represents the interests of the “big three” — Ford, Chrysler and General Motors.