From the Oregon Fair Trade Campaign:
Labor advocates shared a report with U.S. Representative Kurt Schrader’s office today to warn that his district would be giving up thousands of jobs by approving the Trans-Pacific Partnership (TPP) trade agreement without safeguards to prevent currency manipulation by foreign governments. The congressman recently said he intends to support “fast track” legislation that would allow the TPP to be rushed through Congress without currency protections.
“Rep. Schrader has said that it’s imperative that the TPP address currency manipulation to protect American workers, businesses and farmers. Now that it’s clear that the TPP would allow this unfair trade practice to continue, he should oppose giving the job-killing pact a rubber stamp,” said Elizabeth Swager of Oregon Fair Trade Campaign.
June 2013 letter to the President. The House is now considering the bill.
A recent study by the Economic Policy Institute found that the United States has lost nearly 900,000 jobs due to currency manipulation by prospective TPP partner, Japan, alone. The study found that Japanese currency manipulation has cost Oregon's 5th Congressional district 1,400 jobs, and 9,400 jobs statewide.
“If trade negotiators were serious about creating American jobs through the TPP, one of the first things they would have insisted upon is an end to currency cheating that prices Oregon's exports out of the market,” said Greg Pallesen of the Association of Western Pulp and Paper Workers. “A bipartisan majority in the House, including Rep. Schrader, insisted that this was a problem and trade negotiators told them tough luck. This should be an easy call for Rep. Schrader, but he got it wrong by leaving Oregon's jobs unprotected.”
Last month constituents delivered a letter signed by over 2,000 organizations across the country urging his to oppose the fast track legislation.