Mexican Media Brands
Ford Urges Currency Safeguards in Asian Trade Bill
The pending trade pact between the U.S. and countries in southeast Asia should include protection against currency manipulation, says Bob Shanks, Ford Motor Co.'s chief financial officer.
#economics
Share
The pending trade pact between the U.S. and countries in southeast Asia should include protection against currency manipulation, says Bob Shanks, Ford Motor Co.'s chief financial officer.
Shanks tells The Wall Street Journal that Ford generally favors foreign trade agreements, including the Trans-Pacific Partnership agreement under consideration by Congress. But he says the deal in its current form lacks robust safeguards to prevent participating countries from benefiting through unfair control of their currency.
He suggests the agreement address the omission by adopting language from the International Monetary Fund. "It's been used in the past," he tells the Journal.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Achieving Efficiency?
A look at on-road fuel economy changes over 92 years.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.