releases: https://web.archive.org/web/20140221124714/http://www.stabenow.senate.gov/?p=press_release&id=1212
Data license: MIT · Data source: dwillis/congress-press
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| https://web.archive.org/web/20140221124714/http://www.stabenow.senate.gov/?p=press_release&id=1212 | Following Close of Latest Round of Trans-Pacific Partnership Talks, Senator Stabenow Urges Administration to Address Currency Manipulation | 2013-12-10 | 2013 | 2013-12 | Democrat | House | MI | Debbie Stabenow | S000770 | web.archive.org | legacy | As the latest talks between the countries negotiating the Trans-Pacific Partnership trade agreement closed today, U.S. Senator Debbie Stabenow renewed her call for Secretary of the Treasury Jack Lew and U.S. Trade Representative Michael Froman to address foreign currency manipulation in the talks. This most recent round of negotiations did not produce any agreement on currency manipulation, despite the fact that bipartisan majorities in both Houses of Congress support such an agreement. In September, Sens. Stabenow and Lindsey Graham (R-SC), Co-Chairs of the bipartisan Senate Manufacturing Caucus, led 60 of their Senate colleagues in sending a bipartisan letter urging Secretary Lew and Ambassador Froman to address foreign currency manipulation in the TPP and all future trade agreements. "It is disappointing that the latest round of international negotiations did not include any agreement on currency manipulation," said Stabenow. "Illegal foreign currency manipulation has already cost us between one and five million American jobs and we can't let it destroy more. Sixty Senators agree that going forward, Secretary Lew and Ambassador Froman must make addressing currency manipulation a critical component of the Trans-Pacific Partnership negotiations." A bipartisan group of 230 Representatives also sent a letter to U.S. trade negotiators urging similar action. In both the House and Senate versions of the letter, Members of Congress urged U.S. trade negotiators to stand up for U.S. businesses and workers by including enforceable measures against currency manipulation in trade agreements in order to ensure a level playing field on global trade and to help create jobs here at home. The Senate letter sent to Sec. Lew and Ambassador Froman was circulated by Senators Lindsey Graham (R-SC) and Debbie Stabenow (D-MI) and signed by Senators Harkin, Chambliss, Whitehouse, Inhofe, Levin, Murphy, Brown, Klobuchar, Collins, Schumer, Casey, Donnelly, Franken, McCaskill, Sessions, Manchin, Merkley, Coon, Heinrich, Baldwin, Reed, Boxer, Blunt, Pryor, Menendez, Boozman, Rockefeller, Cardin, Coats, Vitter, Markley, Wyden, Burr, Hoeven, Leahy, Tester, Warren, Blumenthal, Udall (NM), Begich, Risch, Mikulski, King, Shaheen, Moran, Sanders, Gillibrand, Heitkamp, Nelson, Portman, Schatz, Roberts, Landrieu, Durbin, Coburn, Grassley, Hirono, and Hagan. The full text of the Senate letter follows: Dear Secretary Lew and Ambassador Froman: We agree with the Administration's stated goal that the Trans-Pacific Partnership (TPP) has "high standards worthy of a 21st century trade agreement." To achieve this, however, we think it is necessary to address one of the 21st century's most serious trade problems: foreign currency manipulation. Currency is the medium through which trade occurs and exchange rates determine its comparative value. It is as important to trade outcomes as is the quality of the goods or services traded. Currency manipulation can negate or greatly reduce the benefits of a free trade agreement and may have a devastating impact on American companies and workers. A study by the Peterson Institute for International Economics found that foreign currency manipulation has already cost between one and five million American jobs. A free trade agreement purporting to increase trade, but failing to address foreign currency manipulation, could lead to a permanent unfair trade relationship that further harms the United States economy. As the United States negotiates TPP and all future free trade agreements, we ask that you include strong and enforceable foreign currency manipulation disciplines to ensure these agreements meet the "high standards" our country, America's companies, and America's workers deserve. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |