Pacific Trade Pact Must Curb Currency Manipulation, Pols Say

Law360, New York (June 6, 2013, 6:28 PM EDT) -- A large bipartisan group of lawmakers in the House of Representatives sent a letter to President Barack Obama on Thursday advocating that a proposed Pacific free trade agreement include curbs on currency manipulation.

Saying foreign countries' deliberate devaluation of their currency was making it harder for American companies to sell their products abroad and costing domestic jobs, the letter, signed by about 230 legislators, said the Trans-Pacific Partnership should include provisions combating currency manipulation.

"Undervalued exchange rates allow other countries to boost exports of their products...
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