With more than $10 billion in exports, the Greater Louisville region ranks in the top 25 metropolitan areas in international trade. In order to keep our exports competitive in the global market, currency rules must be included in the Trans-Pacific Partnership (TPP) trade agreement.
The petition drive is supported by GLI member Ford Motor Company. “With this petition, America’s presidential candidates are being called on to commit that they will not send a TPP agreement to Congress without prohibiting currency manipulation,” said Curt Magleby, Vice President, Government Relations for Ford. “American workers deserve nothing less than a level playing field where markets set exchange rates, not governments.”
Work to address foreign currency manipulation began more than four years ago, and remains one of GLI’s federal priorities, because the issue is critical to manufacturing and the competitive position of American companies. Currency manipulation occurs when countries artificially lower the value of their currencies, making their exports cheaper and hurting competitors in other countries.
The TPP is a major trade deal that would link our economy to the economies of 11 Pacific Rim nations. While the trade deal has been negotiated, it must first be approved by the U.S. Congress.
We strongly encourage Congress, and the next President, to include strict provisions prohibiting currency manipulation in the Trans-Pacific Partnership, and we encourage you to sign the petition, from the Alliance for American Manufacturing calling on all U.S. presidential candidates to commit to including currency rules in the Trans-Pacific Partnership Trade agreement.