On the eve of a Finance Committee markup, Treasury Secretary Jack Lew on Tuesday (April 21) told the sponsors of the pending Trade Promotion Authority (TPA) bill that amendments seeking enforceable rules against currency manipulation in the Trans-Pacific Partnership (TPP) could make it hard to conclude an agreement given the opposition that other participants have expressed to it.
In addition to the letter, Treasury has enlisted the help of Sens. Michael Bennet (D-CO) and Tom Carper (D-DE) to offer an amendment to a customs bill at the markup that reflects the alternative ideas Lew has laid out for fighting currency manipulation. Moreover, Treasury released an April 21 letter by 10 former Treasury secretaries to the congressional leadership speaking out against enforceable currency rules in trade agreements.
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