Clawson-Kildee Amendment to TPA on Currency Manipulation to be Introduced Today Before Rules Committee

Press Release

Congressman Curt Clawson (R-FL) and Congressman Dan Kildee (D-MI) today will introduce their amendment to the Trade Promotion Authority (TPA) bill on currency manipulation before the House Committee on Rules.

"It's important that we incorporate language into the TPA Legislation to ensure that future trade agreements require the elimination of subsidies and unfair practices that artificially favor one trade partner at the expense of another," stated Congressman Curt Clawson. "Time and again, throughout my life and my career in the automotive industry, I have seen the faces of those displaced by this practice. Currency manipulation has dried up many small town and urban neighborhood economies in this country, and put our skilled plant workers in the unemployment line or has forced them into lower-paying jobs. We cannot address free trade unless we address fairness," Clawson concluded.

"Our bipartisan amendment is simple -- it puts teeth into Trade Promotion Authority and addresses currency manipulation by holding countries who deliberately inflate the value of their currency accountable," Congressman Kildee said. "My home state of Michigan has seen first-hand the loss of tens of thousands of good-paying jobs due to the past failure to address currency manipulation. If Congress fails to adopt this amendment and address the biggest barrier to fair trade -- currency manipulation -- American workers will be forced to compete on an uneven playing field."

The Clawson-Kildee Amendment directs U.S. negotiators to include strong and enforceable rules in all future trade agreements to prohibit currency manipulation and to hold participating countries accountable to International Monetary Fund standards. The amendment directs that all future trade agreements will include explicit language to ensure that foreign competitors don't use their exchange rates to subsidize their exports to the competitive disadvantage of products made by American workers.

The Clawson-Kildee Amendment has broad-based support from both sides of the aisle, with new Members voicing their support by the hour, including:

Rep. Curt Clawson (R-FL)

Rep. Dan Kildee (D-MI)

Rep. Mick Mulvane (R-FL)

Rep. Scott Perry (R-PA)

Rep. Mo Brooks (R-AL)

Rep. Dave Brat (R-MI)

Rep. Jim Sensenbrenner (R-IL)

Rep. Jeff Duncan (R-SC)

Rep. Robin Kelly (D-NY)

Rep. Bill Posey (R-FL)

Rep. Trent Franks (R-AZ)

Rep. Mark Pecan (D-WI)

Rep. Sean Patrick Maloney (D-NY)

Rep. Donald Norcross (D-NJ)

Rep. Paul Tonko (D-NY)

Rep. Tim Walberg (R-MI)

Rep. Louise Slaughter (D-NY)

Rep. Brenda Lawrence (D-MI)

Rep. Marcy Kaptur (D-OH)

Rep. Debbie Dingell (D-MI)

Rep. Walter Jones (R-NC)

Rep. Joe Kennedy (D-MA)

The United Auto Workers (UAW), Communications Workers of America (CWA), the AFL-CIO, and the Ford Motor Company are in support of the Clawson-Kildee amendment.

This morning the Ford Motor Company issued a public statement in support of the Clawson-Kildee Amendment from Curt Eagleby, Vice President for U.S. Government Relations, stating:

"Currency manipulation is the most significant 21st century trade barrier that American manufacturers face. We have consistently supported the inclusion of strong enforceable currency rules in all future trade deals."

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