AAPC Statement: G-20 on Currency Manipulation
American Automotive Policy Council President Matt Blunt issued the following statement on the communiqué issued by the G-20 finance ministers in Moscow.
"AAPC applauds the G-20 for recognizing the harm caused to the global trading system by countries like Japan who are manipulating their currencies to gain a competitive advantage for their exporters. We urge all countries to abide by the commitment made by the G-20 today that 'We will refrain from competitive devaluation. We will not target our exchange rates for competitive purposes, will resist all forms of protectionism and keep our markets open.'"
The American Automotive Policy Council, Inc. (AAPC) is a Washington, D.C. association that represents the common public policy interests of its member companies Chrysler Group LLC, Ford Motor Company and General Motors Company