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Camp Statement on Currency Manipulation and TPP

November 13, 2013

Washington, DC – Today, Ways and Means Committee Chairman Dave Camp (R-MI) made the following statement on currency manipulation and the ongoing Trans-Pacific Partnership (TPP) talks:

“Currency manipulation is a serious problem that can erode the benefits of our trade agreements.  I hear regularly from other Members of Congress and stakeholders about their shared concerns.  The Administration has made progress through the G20, IMF, and WTO to address currency issues, but more must be done.  It’s time to have a serious discussion about the pros and cons of including currency provisions in trade agreements – and what those provisions might look like.  If the Administration continues to delay its engagement on this politically and economically important issue, it will undermine support for TPP and could delay our ability to conclude TPP.

“Completing TPA is also critical to concluding a robust and comprehensive TPP.  The President must do more to make the case about the importance of TPA.  He missed a prime opportunity last week to highlight TPA when he spoke in New Orleans about the economic benefits of trade policy.  We simply cannot get the high standard, job-creating agreements that we need without TPA.”