Obama Administration Must Focus on Japan’s Currency Manipulation: Alliance for American Manufacturing (AAM).

Yesterday, President Barack Obama concluded talks with Japanese Prime Minister Shinzo Abe on such key issues as North Korean missile tests, Japan’s territorial dispute with China over the Senkaku Islands, and the open question of Japan’s involvement in a potential Trans-Pacific Partnership (TPP).
This morning, Alliance for American Manufacturing (AAM) President Scott Paul published aneditorial at CNBC.com urging the Obama Administration to ensure that currency issues are strongly and clearly addressed ahead of any TPP agreement.
As Paul explained in his op-ed:
“We should welcome and encourage Japan’s interest in freer trade.  But let’s not roll out the red carpet for TPP’s arrival just yet….If and when Japan sits down to talk about a lucrative TPP deal, American workers and corporate executives alike will be watching closely to see if the path forward is based on reciprocity and a shared understanding of market-based currency disciplines. This should include specific commitments to eliminate currency manipulation among TPP countries along with other non-tariff barriers that place American products at a disadvantage in foreign markets.”
The Alliance for American Manufacturing is a non-profit, non-partisan partnership formed in 2007 by some of America’s leading manufacturers and the United Steelworkers to explore common solutions to challenging public policy topics such as job creation, infrastructure investment, international trade, and global competitiveness. For more information, please visitwww.americanmanufacturing.org.

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