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USTR to seek 'appropriate mechanism' in NAFTA on currency manipulation

Reuters  |  WASHINGTON 

(Reuters) - The U.S. Representative's office said on Monday it is seeking a provision to deter manipulation as part of its renegotiation of the North American Free agreement, a move that would set a precedent in a U.S. deal.

In a letter to lawmakers setting out negotiating objectives, USTR Robert Lighthizer said that the pact should, "through an appropriate mechanism, ensure that the countries avoid manipulating exchange rates in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage."

Neither Canada or Mexico is currently on a U.S. Treasury a "watch list" for possible manipulation.

(Reporting by David Lawder)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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