Two congressional Democrats on Monday blamed Ford Motor Co.'s exit from Japan on the lack of currency manipulation provisions in a sweeping Asia-Pacific trade deal.
Sen. Sherrod Brown (D-Ohio) and Rep. Debbie Dingell (D-Mich.), who are both opposed to the 12-nation Trans-Pacific Partnership (TPP) that includes Japan, said the agreement doesn't crack down on exchange rate policies or remove barriers to Tokyo's auto industry that would help U.S. manufacturers.
“The TPP’s lack of any meaningful currency protections means that it will be more of the same.” We need our government to fight for companies in the global marketplace in the same manner as some other countries do. This business decision by Ford is further evidence of the impact of unfair currency manipulation.”
"The ink isn’t even dry and we are already seeing proof that this massive agreement will sell out American workers and roll back the remarkable recovery of our auto industry," Brown said.
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