Top Trade Dem in House Confronts Administration on Currency
The Trans-Pacific Partnership should build on currency manipulation rules administered by the International Monetary Fund, and the agreement should also put into effect an enforcement mechanism, said House Ways and Means ranking member Sandy Levin, D-Mich., in a briefing on…
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Feb. 6 (here). The TPP negotiations have not yet broached currency, but that must change, said Levin. The U.S. Treasury Department isn’t likely to be affected by TPP currency rules, said Levin. The day before, during testimony at the Finance Committee on Feb. 5, Treasury Secretary Jack Lew said the administration is opposed to currency rules in TPP because that may hamper Treasury’s ability to act, according to media reports (here).