Sens. Susan Collins (R-Maine) and Angus King (I-Maine) joined a bipartisan group on Wednesday in signing a letter calling for foreign currency manipulation to be addressed during negotiations over the Trans-Pacific Partnership.
The letter, sent to Treasury Secretary Jack Lew and U.S. Trade Representative Michael Froman, calls for assurance that any future free trade agreements contain “strong and enforceable foreign currency manipulation disciplines” to protect American workers and businesses.
“Maine employees have a well-earned reputation as some of the most conscientious and diligent workers in the world,” Collins and King in a said in a joint statement. “When allowed to compete within the framework of a fair trade partnership, Maine companies are able to excel in the global marketplace. Currency manipulation creates an uneven playing field for companies and needs to be addressed as we negotiate the TPP in order to protect Maine jobs.”
The Trans-Pacific Partnership, which includes Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam and the United States, seeks to boost economic growth in the U.S. while supporting the creation and retention of high-quality American jobs through an increase of exports in the Trans-Pacific region, which represents more than 40 percent of global trade.