Steel urges action on currency manipulation

Jul 03, 2014 | 04:40 PM | Jo Isenberg-O’Loughlin

Tags  currency manipulation, AISI, American Iron and Steel Institute, letter, outreach, Obama administration, American Automotive Policy Council, Jacob J. Lew Michael B. Froman

NEW YORK — The American Iron and Steel Institute (AISI), the Steel Manufacturers Association (SMA) and 11 other trade associations have urged the Obama administration to include strong and enforceable provisions prohibiting currency manipulation in all future U.S. free-trade agreements, including the Trans-Pacific Partnership (TPP).

Spearheaded by the American Automotive Policy Council, the groups sent a letter July 1 to Treasury Secretary Jacob J. Lew and U.S. Trade Representative Michael B. Froman that was signed by trade organizations representing the U.S. automotive, textile and manufacturing sectors. In the letter, the groups urged the administration to adopt a specific three-part test to determine whether a country is manipulating its currency and to provide for the loss of the trade agreement’s benefits as a....

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