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WASHINGTON – “Trade Promotion Authority will help create new opportunities for American workers and businesses and encourage competition while promoting open trade and investment.
“Passing this bipartisan legislation is vital. Beyond supporting our workers and firms, it will strengthen our hand as we forge trade deals that lift up the middle class in a changing global economy. This legislation will also bolster our goal of achieving a comprehensive and high-standard Trans-Pacific Partnership Agreement. We strongly agree with Members of Congress that unfair currency practices need to be addressed and have worked to move major economies to market-determined exchange rate systems that are transparent, flexible, and reflect underlying economic fundamentals. The TPA bill introduced by Senators Hatch and Wyden includes a currency objective that goes well beyond the 2002 TPA. We are committed to working with Congress to use all appropriate tools to address currency issues in a way that is consistent with our overall strategy of bilateral and multilateral engagement.
“I commend Chairman Hatch, Ranking Member Wyden, and Chairman Ryan for their leadership, and I look forward to working with Congress, our domestic stakeholders, and our international partners to conclude this ambitious and important work.”
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