HITTING THE PAPERS TODAY: The American Automotive Policy Council has a full-page ad running in today’s POLITICO and The Hill papers noting that majorities of both chambers of Congress support strong provisions against currency manipulation in the Trans-Pacific Partnership debate. Give it a look: http://politico.pro/1fHdNWp. And POLITICO Influence reports that Ford has hired Hoppe Strategies to lobby on TPP issues: http://politi.co/19kozbZ
WASHINGTON, D.C. - The American Automotive Policy Council (AAPC) today ran full-page ads in Politico and The Hill highlighting that bipartisan majorities in the U.S. House and the U.S. Senate support the inclusion of strong and enforceable rules in trade agreements that will prevent currency manipulation.
"A broad, bipartisan majority of the U.S. Congress is calling for strict currency manipulation rules in the TPP," said Matt Blunt, president of AAPC. "Enforceable, strong rules are critical to reaching a high-standard agreement that can be supported by the U.S. auto industry."
Toyota Chairman Takeshi Uchiyamada on Monday challenged Detroit-based automakers to spell out exactly what barriers they face selling in Japan’s market as negotiations between the United States and Japan on a regional free-trade pact intensify.
“We would like to hear specifically what kind of problems they are seeing. And listening, we’d like to work together in a forward-looking way, including confirming what they’re saying is a fact,” Uchiyamada told reporters after a speech to the Economic Club of Washington.
The Obama administration is racing to finish negotiations on a Pacific free-trade pact by year's end, but it's running up against a potentially major obstacle at home.
A Senate letter demanding that the Obama administration include disciplines on currency manipulation in trade agreements, including the Trans-Pacific Partnership, has attracted 60 signatories, with more than half of them from the Banking, Finance and Foreign Relations committees.
A bipartisan group of 60 U.S. senators on Tuesday urged the Obama administration to address foreign currency manipulation in the Trans-Pacific Partnership trade talks.