In the column “Carmakers’ currency stance imperils trade talks" (Jan. 26), David Nicklaus incorrectly implies that American automakers are pursuing currency provisions in order to delay the agreement or kill the negotiations altogether. In fact, U.S. automakers have supported every ratified free trade agreement and consistently lauded the economic potential of the Trans-Pacific Partnership.
A recent Peterson Institute for International Economics study found that 1 million to 5 million American jobs have been lost due to foreign currency manipulation, and currency manipulation adds $200 billion to $500 billion to our annual trade deficit. Multiple countries with a history of currency manipulation are in the TPP negotiations, and a free trade agreement that increases trade but does not address currency manipulation would lock in unfair trade relationships.