Political Quotes

“I ask unanimous consent to have printed in the Record a letter dated September 23, 2013, signed by 60 U.S. Senators, that calls on the administration to include strong and enforceable currency provisions in all future trade agreements. There being no objection, the material was ordered to be printed in the Record, as follows: U.S. Senate, Washington, DC, September 23, 2013. Secretary Jack Lew, Department of the Treasury, Washington, DC. Ambassador Michael Froman, Office of the United States Trade Representative, Washington, DC. Dear Secretary Lew and Ambassador Froman: We agree with the Administration's stated goal that the Trans-Pacific Partnership (TPP) has ``high standards worthy of a 21st century trade agreement.'' To achieve this, however, we think it is necessary to address one of the 21st century's most serious trade problems: foreign currency manipulation. Currency is the medium through which trade occurs and exchange rates determine its comparative value. It is as important to trade outcomes as is the quality of the goods or services traded. Currency manipulation can negate or greatly reduce the benefits of a free trade agreement and may have a devastating impact on American companies and workers. A study by the Peterson Institute for International Economics found that foreign currency manipulation has already cost between one and five million American jobs.…”