U.S. Senators Urge Obama to Act on Currency ManipulationNicholas Johnston
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
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