Bill Would Torpedo Trade Pacts With Currency Fixers

Law360, New York (June 22, 2011, 8:10 PM EDT) -- U.S. Sens. Olympia Snowe, R-Maine, and Jay Rockefeller, D-W.Va., introduced a bill Tuesday aimed at preventing the U.S. from entering into trade agreements with countries that undervalue their currency in order to gain a trading advantage.

The Currency Exchange Rate Transparency Act, or S. 1238, would require all trade agreements sent to Congress to be accompanied by certification from the president that the government of the prospective trading partner has not manipulated the exchange rate between its currency and the U.S. dollar within the last ten...
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