The currencies of the 11 nations that joined the U.S. in agreeing to the Trans-Pacific Partnership on Monday will likely continue to lose ground against the U.S. dollar, possibly aggravating U.S. lawmakers who may interpret that weakness as intentional manipulation.
While the TPP trade pact was being negotiated, some U.S. lawmakers lobbied Michael Froman, the U.S. trade representative, and Treasury Secretary Jacob Lew to include language that would create a framework for addressing currency manipulators. But that language didn’t make it into the main agreement, instead ending up in a side deal.
