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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.
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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.
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