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Joint Declaration of the Macroeconomic Policy Authorities of Trans-Pacific Partnership Countries

For the first time in the context of a free trade agreement, countries have adopted a Declaration that addresses unfair currency practices by promoting transparency and accountability. 

  • All TPP countries commit to avoid unfair currency practices and refrain from competitive devaluation.

  • TPP countries will publicly report their foreign-exchange intervention and foreign reserves data, some for the first time.

  • Officials from all TPP countries will consult regularly to address macroeconomic issues, including to engage on efforts to avoid unfair currency practices. 

Resources:

  • TEXTof Joint Declaration of the Macroeconomic Policy Authorities of TPP Countries

  • FACT SHEET on the Joint Declaration

  • STATEMENT on the Joint Declaration by TPP Macroeconomic Policy Authorities

  • ​​LINK ​to text of Joint Declaration and statement from Secretary Lew on Medium.com 
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Last Updated: 8/25/2016 3:12 PM

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