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Stabenow: Trade Pacts Should Consider Currency Manipulation

The US-Korea Free Trade Agreement (KORUS) has fallen short of expectations and lessons learned from the experience should be applied to other trade negotiations, Senate Finance Subcommittee on International Trade, Customs and Global Competitiveness Chairwoman Debbie Stabenow (D-Mich.) said July 29 at a hearing on the two-year old pact. Stabenow said South Korea remains one of the world's most closed auto markets because of non-tariff barriers. She also reiterated her view that trade pacts under consideration, such as the Trans-Pacific Partnership (TPP), should take into account currency manipulation. KORUS took effect on March 15, 2012.

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