Washington, D.C. - AAPC President Matt Blunt today issued the following statement on the introduction of the Trade Promotion Authority (TPA) bill:
"We are pleased that for the first time ever in a TPA bill, the United States negotiators have been instructed to address currency manipulation as a top negotiating priority and recognize the importance of this issue. We commend Chairmen Camp, Baucus and Senator Hatch for taking this ground breaking step. They clearly have heard the concerns of industry and American auto workers.
"However, we believe the language is too open ended and leaves open a path that could result in vague and unenforceable text related to currency manipulation. In order to achieve the objective of deterring currency manipulation, we urge that TPA exclusively call for strong and enforceable currency disciplines in any trade agreement submitted to Congress for approval.
"A bipartisan majority of Representatives and Senators have called for action against currency manipulation and AAPC looks forward to working with members of Congress to ensure that future trade agreements will effectively prohibit direct currency intervention."
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.