The dust hasn’t even settled on the Trans-Pacific Partnership (TPP) trade deal, and we’re already seeing negative effects.
American automaker Ford just announced it will withdraw from the Japanese market. Why? Because Japan engages in something called currency manipulation — they devalue their own currency to give their manufacturers, exporters, and industries — like their auto industry — an unfair advantage in the global market.
Japan is a notorious currency-manipulator — second only to China. They make it so U.S. companies like Ford can’t compete on a level playing field.
And regulations in the TPP do nothing to crack down on this practice. In fact, the Japanese — and the Japanese auto industry — played an outsized role in drafting the auto provisions in the TPP.
The TPP does not go nearly far enough to protect American workers and American jobs. The American auto industry is finally back, selling more cars in 2015 than ever before. We cannot squander that success on a trade deal that does not adequately protect our interests.
I’ve called on the President and the United States Trade Representative to protect American workers and jobs in the TPP — and so far, 8,622 of you have joined me. Help us get that number up to 10,000.