September 24, 2013
James Politi and Shawn Donnan

A bipartisan majority of the US Senate demanded that US President Barack Obama address “currency manipulation” in trade negotiations with 12 Pacific nations, throwing up a potential roadblock as the talks approach their final stages.

On Tuesday, a group of 60 senators out of 100, including both Democrats and Republicans, sent a letter to Mike Froman, the US trade representative, and Jack Lew, the Treasury secretary, asking them to fight for currency measures in the so-called Transpacific Partnership and “future trade agreements”.

Although the letter does not specifically mention Japan, it reflects growing anger on Capitol Hill and among American manufacturers, particularly US carmakers, at the devaluation of the yen under the new economic policies of prime minister Shinzo Abe.
 

Source
The Financial Times