U.S. Treasury steps up pressure on Congress over currency rules

Reuters WASHINGTON | Updated on January 23, 2018 Published on May 19, 2015

U.S. Treasury Secretary Jack Lew said on Tuesday he would recommend that President Barack Obama veto any trade bill punishing currency manipulators with sanctions, pushing back against lawmakers intent on grafting such rules into trade deals.

In a letter to senators, Lew said the Obama administration did not support a proposed currency amendment to legislation to streamline the passage of trade deals through Congress.

"I would recommend the president veto legislation with a currency amendment that would jeopardize our ability to protect the U.S. economy," he wrote in the letter.

Published on May 19, 2015
This article is closed for comments.
Please Email the Editor