Inside US Trade: Currency Amendment Defeat Partially Due To Senators Breaking 2013 Pledge

June 03, 2015


Among the 51 senators who joined together on May 22 to kill an amendment to a Trade Promotion Authority (TPA) bill that would have required the United States to seek enforceable rules against currency manipulation in free trade agreements were 10 who two years ago demanded exactly that from the Obama administration. The amendment was defeated by a vote of 51-48 on May 22.

[Reposted from Inside US Trade  |  May 28, 2015]

Among the ten were three Democrats -- Sens. Chris Coons (D-DE), Bill Nelson (D-FL) and Ron Wyden (D-OR) -- and seven Republicans. They were: Sens. John Boozman (R-AR), Dan Coats (R-IN), John Hoeven (R-ND), James Inhofe (R-OK), Jim Risch (R-ID), Pat Roberts (R-KS) and David Vitter (R-LA).

These members, along with 50 other senators, signed a Sept. 23, 2013 letter to U.S. Trade Representative Michael Froman and Treasury Secretary Jack Lew urging them to "include strong and enforceable foreign currency manipulation disciplines" in the Trans-Pacific Partnership (TPP) and all future FTAs.

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