Peters Praises American Automotive Policy Council's Proposal on Currency Provisions in TPP

Press Release

Today, U.S. Representative Gary Peters (MI-14) released the following statement in response to the American Automotive Policy Council's (AAPC) proposal for strong and enforceable currency provisions in trade agreements like the Trans Pacific Partnership (TPP).

Peters said, "American workers and manufacturers are the best in the world, and we must do everything we can to ensure that everyone is playing by the same rules. Trade agreements should ensure a level playing field exists by prohibiting currency manipulation that results in a competitive advantage. The proposals made by the AAPC are a step in the right direction, and I hope the Administration is hearing the voices of the U.S. manufacturers and workers who could be negatively impacted by a TPP agreement that does not address unfair practices like currency manipulation."

Peters, the Co-Chair of the Congressional Auto Caucus, is also a member of the U.S. House Financial Services Committee. He opposes any TPP agreement that does not address currency manipulation or reduce or eliminate tariffs on Japanese autos without opening Japanese markets. He recently asked U.S. Treasury Secretary Lew about the AAPC's recommendations to address currency manipulation in the TPP agreement. In July, he pressed Federal Reserve Chairman Ben Bernanke on how Japan's currency manipulation is affecting the U.S. economy and economic recovery at a House Financial Services Committee hearing. The video can be seen here.

Source