A majority of the House of Representatives has signed a letter urging President Barack Obama to insist on new rules against currency manipulation in a proposed trade agreement with Japan and 10 other countries in the Asia-Pacific region...
...The Obama administration hopes to finish talks on the proposed Trans-Pacific Partnership, or TPP, by the end of the year, and making new demands on an issue as contentious as currency could slow the negotiations.
The American Automotive Policy Council and two other manufacturing groups, the Alliance for American Manufacturing and the American Iron and Steel Institute, applauded the letter.
"Strong, enforceable rules prohibiting currency manipulation must be included in the trade agreement, but before Japan can be allowed to become a TPP partner, it must establish a clear record demonstrating that its domestic auto market is completely open to foreign competition," said AAPC President Matt Blunt.