8 June 2001, 10:52 US Manufacturing Groups Press Against Strong Dollar Policy
The leading manufacturing trade group Thursday unveiled a major policy
initiative, leaning on the White House and Treasury to send a signal
that it is not U.S. policy to endorse "an ever-stronger dollar
irrespective of economic fundamentals." In a letter that represents a
departure from the NAM's previous policy not to make the dollar a policy
issue -- since there are many companies in its membership that benefit
from a strong dollar as well as a weaker dollar -- the trade group and
five other manufacturing groups said "at current levels, the exchange
value of the dollar is having a strong negative impact on manufacturing
exports, production and employment."
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