TOKYO -- U.S. auto executives and the Donald Trump administration have stepped up criticism of the strong dollar in recent days, leaving Tokyo leery of swings in the yen as well as blowback from Washington for managing its own currency.
Mark Fields, CEO of Ford Motor, called currency manipulation "the mother of all trade barriers" after a meeting with Trump on Tuesday, praising the president for rejecting the Trans-Pacific Partnership trade pact, which Fields said did not go far enough in combating that issue. The automaker lobbied the U.S. Congress extensively while the TPP was being negotiated, calling for the inclusion of stricter currency provisions and criticizing what it saw as unfair currency policies elsewhere. Ford's ultimate goal was a weaker dollar, which would make the company's vehicles more cost-competitive.
