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Pacific Trade-Deal Nations Commit to Refrain From Currency Wars

  • TPP countries echo G-20 vow to avoid competitive devaluation
  • U.S. automakers have called for enforceable provisions

The dozen countries that signed the Trans-Pacific Partnership have committed to refrain from competitive currency devaluations and be transparent about their exchange-rate policies, the U.S. said.

Negotiators for Pacific Rim nations including the U.S., Japan, Australia and Vietnam agreed last month to the deal, which would cut trade barriers on items ranging from cars to rice. It requires ratification by Congress.