The Chimera of Currency Manipulation
If the US were to insist that “strong and enforceable currency disciplines” be part of trade agreements, as some in Congress are demanding for the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership with the EU, no deals would be concluded. Other countries would refuse – and they would be right.
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CAMBRIDGE – US President Barack Obama is still pressing to obtain Trade Promotion Authority and use it to conclude negotiations for the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) with the European Union. But many in the US Congress insist that provisions must be added to the agreements to prevent currency manipulation.