C!tongrt of tltt llinitt~ l;tatt. IIU1J1 111ghTLI. 1I0l 2U515. June 6, 2013

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1 C!tongrt of tltt llinitt~ l;tatt. IIU1J1 111ghTLI. 1I0l 2U515 Pn:sidem Burack Obama The White liouse Washington, D.C Dear President Obama: June 6, 2013 As the Unite<.! Slales continues to negotiate the Trans-Paei fie Partnership, it is impcmtivc that!hc agreement address currency manipulation. Exchange rules strongly influence trade flows, and, in reccnt years, currency manipulation has contributed 10 the U.S. trade deficit and cost 115 Americanjobs. Incorporating currency provisions in the agreement will strengthen our ability 10 combat these unfair trade practices and help 10 cn:ate llievel playing field for American workers, bnsincs,es, and famlers. Undervalued exchange rates allow oilier cnnlllries to boost exports oftheif products and to impede exports of ours. They al'lo contribute \0 trade imbalances und market acccss limitations that make it diflicult for U.S. companies to compete in foreign countries. A~ording to the Peterson Institute for In ternational Economics, a minimum of one million Americanjobs have been shipped overseas as a result of currcney manipulmion alone. The consequenccs arc no! singular to the U.S.; misaligned cnrrencics arc dislol1ing the entire global economy. Dcspiw U.S. effol1s to address currency manipulation at the G-20, major currencies remain significantly undervalued. Including currency disciplines in the TPP is consistent with and wi!! holster our ongoing efforts \0 respond to these trade-distorting polici~. 11 will also J"dise TPP to the 2\" century agreement standard set by the Administration. More importantly, it will create a level playing field for American husinesses and 'Norkers and prevent more U.S. jobs from being shipped overseas. Thank you for your consideration of this!eller. We look forward to working with you to address undervalued exchange rates in the TPP agrc<:meo!. Sincerely, Member llfcllngrcss SAM GRAVES MemberofCongress Rl:tiJ{li)i

2 S DER 1 LEVIN Mem,,,,",,,pongress MAR~~ wa JJM,b- L --- WALTER B. JONE{jvJ...v.-== -Lt#v TIM RYAN,&z~ ~ Ut-t- HOWARD COilLE ANIEL LIPINSKI Member of Congrcss c~ :5 4.. J1,<AJ.n- CAROL SHEA-PORTER 2

3 .dtue~ STEVE COHEN rtrj~ (WUr#!) MICHAEL E. CAPUANO ~}?L'~ MIKE MCINTYRE Member ofconb'fess SCOTT H. PETERS Member ofcong rc ~s ~, WILLIAM L. OWENS l!l:c'"" GENE GREEN CHRIS COLLi S Member ofcongrc.'>s LiNOA T. SANCHEZ 3

4 ERI~ Member orcongress /1U411 NTCK J. RAHALL II c-.~ CORRINE BROWN EDDIE BERNICE JOHNSON r l /7A~. /-am'f BENT~ 4

5 :In<A~ MIKE 1. ROG ERS ~==">' ~//~ ELEANOR IIOLMES NORTON Mcmber of Congress ~~ Mcmber of Congress ~c~~ OANIEL R MA F I - ~ J Mcmbcr of Congrc5s Member ofcongres~ 1d!NsJ~ CHEI.I.IE PINGREE PATRICK MEEllAN ( Hloe ofcongrt'ss /cuw<c BILL H U!Z~EC"N,,(~;ciA"""'''''?''\ Member of Cong Css T~f~ ANN KIRKI' Mem rorcongress 5

6 ~~ ber of Congres-~ CHERI BUSTOS CHARLES IJ. RANG' L ~l:~ Member ufcongress,2~~.t""~ ~~~ ;4 JDkURTN~ MARKTAKANO 6

7 , JOHN F. TIERNEY 13&k 0 klk. 13ETO O'ROURKE Member ofcongres~ Membcr of Congress Member ofcongi'l:ss Mn\.0fC\r~ MARCA.VEAS-;;6 "' 7

8 ~A~J:.:t JO llar'ion RUSH HOLT LOIS CAPPS ~ ~... ldmmj\o 1tf.;.L..4_ -.~ NIKI TSONGAS ~ I.uEA.J- ROBERT E. ANDREWS 8

9 ~, tl!. 111~ EDWARD J. ~RKEY Member ofcongrcs;. ' _,./" Membt:r ofconb'1"e~s Menlbt:r olto ~~ L.)~"",,-... _ J~ )N 9

10 J~Ck- cfj..~, ADAM B. I' i:'~ BENNIE G. THOMPSON Member ufcongress 7 ll~'o/~->j~-":''''' I Cl ~y",,~ TIM MURPHY Member ofcongre~s ld" 10

11 , ,. G-c--rL,, -' "GJNN THOMPSON Member orcongre~s Member of Congn:ss ' gress.fifu~ SEAN~ Y MemherofCongro: TULSI GABBARD A l.i"l." -r ED WIJITFIELD 11

12 ctlqa 2svJ1 LAMAR SMITII """"fcm,,,,,, ]_ l" Me be BERA congr~ NSTNEMA M~mbt:r of Congress U!;SHEK 4tJf'~ ROBERT PIlTENGER Member oltortgrcss ~'""'7 EFF FORTENBERRY Memhcr ofcongrcss, " 12

13 KEVIN YODER &L.f... ~, 9-- ELIOT L. FiNGEL Membt:rofCo~s S'~ -:r;,...ef2- STEVE ISRAEL _~ W~ KATHY' STOR G~-. -::=::::-- ANNA G. ESIIOO ---- "'--~ember ofcongrcss Member orcongress ~~p~ IJ

14 otouh-'llcrji ALAN S, LOWENTHAL 1k:.- ~ M~ GLORIA NEGRE MCLF.OD EJL~ Member (lfcongrc3.~ 14