U. S. Treasury Secretary Steven Mnuchin said Saturday that Washington is seeking to include an agreement to prevent competitive currency devaluations in any trade deal with Japan. The United States pushed to include such a clause in the renegotiated North America Free Trade Agreement involving Canada and Mexico as well
U. S. Treasury Secretary Steven Mnuchin said Saturday that Washington is seeking to include an agreement to prevent competitive currency devaluations in any trade deal with Japan.
The United States pushed to include such a clause in the renegotiated North America Free Trade Agreement involving Canada and Mexico as well as a recently revised free trade deal with South Korea as part of President Donald Trump’s drive to reduce his country’s more than $700 billion trade deficit.
“That would be one of the issues we discuss, but yes our objective is to incorporate this language into future trade agreements,” Mnuchin told reporters in Bali, Indonesia, on the sidelines of a meeting of the International Monetary Fund.
“We think it is really best practice.
