Michaud Lambastes Lack of Currency Discussion in TPP
The Office of the U.S. Trade Representative’s refusal to broach currency manipulation in Trans-Pacific Partnership (TPP) negotiations jeopardizes congressional support for Trade Promotion Authority, said Rep. Michael Michaud, D-Maine, in a May 7 letter to President Barack Obama. U.S. Trade…
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Representative Michael Froman admitted before the Senate Finance Committee earlier this month his office is not currently pushing currency rules in TPP negotiations (see 14050123). “This is deeply troubling news and signals to me that our trade negotiators do not have the best interests of the American workers at heart,” said Michaud. “All the ‘consulting’ in the world doesn’t mean a thing if you are simply going to ignore what Congress is telling you.” Froman said in testimony USTR has held over 1,200 consultation sessions with Congress on the TPP. Majorities in both congressional chambers have demanded currency rules in U.S. free trade agreements (see 13092423).