Representative Tim Ryan (D-OH) and Dave Joyce (R-OH) Fight to Include Currency Manipulation Enforcement in Trans-Pacific Partnership

Jul 30, 2015 Issues: Helping Working Families

Washington, DC – Representatives Tim Ryan (D-OH) and Dave Joyce (R-OH) were joined today by a bipartisan group of 13 Members of Congress to urged the United States Trade Representative Michael Froman to include enforceable currency obligations in the Trans-Pacific Partnership (TPP). Numerous TPP partners have been identified as currency manipulators, altering exchange rates in their favor to gain advantage over other nations within the agreement, including the United States.

“Currency manipulation has cost the United States millions of jobs and that number is continuing to rise every day. It is critical that we put an end to this unfair practice. We know that if we fix currency manipulation, our nation will create 2.3 to 5.8 million jobs right here at home – but as it stands now, this agreement only exasperates the problem,” said Rep. Ryan (D-OH). “We have seen the destructive impact other trade agreements inflicted on hardworking American families, and without an effective policy dealing with currency manipulation, the economic wellbeing of hundreds of thousands of Ohioans and millions across the country will be devastated by this agreement.”

"The 800 pound gorilla in the room when it comes to our economy is China and it's blatantly unfair practice of manipulating currency. We all know if US workers and American companies are given a level playing field, we can compete anywhere in the world,” said Rep. Joyce (R-OH).  

Representatives Tim Ryan (D-OH) and David Joyce (R-OH) are joined by Representatives David McKinley (R-WV),  Brian Higgins (D-NY), Dan Lipinski (D-IL), Walter Jones (R-NC), Paul Tonko (D-NY), Bill Pascrell (D-NJ), Alan Grayson (D-FL), Marcy Kaptur (D-OH), Donna Edwards (D-MD), Eric Swalwell (D-CA), Gene Green (D-TX), Raúl Grijalva (D-AZ), and Rosa DeLauro (D-CT).

You can view the letter to United States Trade Representative Michael Froman here.