Ford: Trade deal must address currency manipulation

Trade is the foundation of Ford’s global business. We support free trade agreements that result in real market openings and a level playing field for all to compete. Currency manipulation is the most significant 21st century trade barrier that American manufacturers face. While 60 U.S. Senators and 230 U.S. Representatives called on the Obama administration to fix the problem, the current language in Trade Promotion Authority does not adequately address currency manipulation.

We support a bipartisan solution, led by Sen. Debbie Stabenow, that targets the worst behaviors by simply enforcing existing International Monetary Fund and World Trade Organization commitments. Why shouldn’t all countries live by the rules the world has agreed to? As a top U.S. exporter of vehicles, we appreciate Sen. Stabenow and Rep. Sander Levin’s principled position on currency manipulation that will help preserve and grow jobs in Michigan and across America.

Ziad Ojakli, group vice president, government and community relations, Ford Motor Co.