Dingell pushes back on trade deal
U.S. Rep. Debbie Dingell won't support a free-trade deal she says will harm the auto industry and Michigan's economy.
She's criticizing the Obama administration's Trans-Pacific Partnership on the basis that it doesn't address currency manipulation that keeps foreign currencies artificially low compared to the U.S. dollar.
"Right now there's an $8,000 cost advantage for the Japanese with the yen at 124 to a dollar for a vehicle. That's not fair, it is not a fair marketplace, and I'm going to protect the working men and women of the state of Michigan," says Dingell.
The deal covers trade between the U.S. and ten countries in the Asia-Pacific region. Its goal is to boost jobs and economic growth among the participating countries, but it has been compared to the North American Free Trade Agreement, which is blamed for a loss of jobs in the U.S.