Late last week, a leading expert called on the Obama administration to include provisions to deter currency manipulation in both the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) trade accords, arguing that such provisions should serve as one part of a comprehensive strategy designed to deter China and others from keeping the value of their currencies artificially low. The United States should strive to include "mechanisms in bilateral or regional trade agreements ... that would suspend the benefits of the agreement to countries that were found to be manipulating their currencies," Fred Bergsten, director emeritus at the Peterson Institute for International Economics, said in a speech delivered at the Institute, noting that TPP involves "several current and former manipulators" while TTIP features "like-minded" countries on currency.
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