AAM blasts Treasury over currency manipulators

WASHINGTON (April 13, 2015) — The Alliance for American Manufacturing (AAM) criticized the U.S. Department of the Treasury recently for not citing China or Japan as currency manipulators in its most recent “Report to Congress on International Economic and Exchange Rate Policies.”

Treasury submitted its semi-annual report on exchange rate policies to Congress April 9.

“This was the 13th opportunity under the Obama administration for Treasury to name China a currency manipulator — an opportunity it passed on by not citing China or Japan for currency manipulation,” the AAM said in an April 10 press release.

“With this report, their words appear empty and without force once again.”

AAM President Scott Paul accused the Obama administration of “artful use of rhetoric” that sounds concern but fails to bring about any meaningful change.

“Currency manipulators must be named and action must be taken,” Mr. Paul said. “American jobs are on the line, but the Obama administration seems content to sit on the sidelines. Our workers deserve better.”