U.S. Senators Urge Obama to Act on Currency Manipulation

Sens. Sherrod Brown, D-Ohio, Rob Portman, R-Ohio, GOP presidential candidate Lindsey Graham, R-S.C. among group writing to USTR Michael Froman, Treasury Sec. Jack Lew urging stronger steps on currency manipulation as part of trade negotiations.

  • Say recent Chinese currency devaluation “could lead to a pattern of competitive devaluation within the Asia-Pacific that could hurt U.S. workers and exports for years to come”
    • Letter cites follow-on moves from Vietnam, S. Korea
  • Other signers: Sens. Chuck Grassley, R-Iowa, Debbie Stabenow, D-Mich., Richard Burr, R-N.C., Jeff Sessions, R-Ala.
  • NOTE: China last month devauled it’s currency, the yuan, by the most since 1994
Link to Letter

Before it's here, it's on the Bloomberg Terminal. LEARN MORE