AAPC Disappointed TPP Currency Manipulation Text Not Proposed
Washington, D.C. - American Automotive Policy Council President Matt Blunt today issued the following statement on the results of the just concluded Trans-Pacific Partnership (TPP) round of talks:
"We are deeply disappointed that despite calls from industry groups, leading economists and bipartisan majorities of the U.S. Congress for strong and enforceable currency disciplines in TPP, the Obama Administration has yet to offer text to even begin to address currency manipulation in the TPP negotiations. Without currency rules in trade agreements, countries could manipulate their currencies to gain an unfair competitive advantage over other trading partners and undermine the expected benefits of TPP."
The American Automotive Policy Council, Inc. (AAPC) is a Washington, D.C. association that represents the common public policy interests of its member companies Chrysler Group LLC, Ford Motor Company and General Motors Company.