U.S. Currency Hawks Press For Enforceable TPP Disciplines After Vietnamese Devaluation
Lawmakers and U.S. stakeholders who are pressing for the Trans-Pacific Partnership (TPP) to include strong, enforceable currency rules were further galvanized last week by Vietnam's devaluation of its currency in an effort to stem the impact of China's decision earlier this month to devalue the renminbi (RMB) relative to the U.S. dollar. These critics of the administration’s currency policies alleged that the Aug. 19 devaluation by Vietnam, as well as the depreciation of currencies in Asia-Pacific countries since China’s first...