GO
Loading...

Washington says won't let trade deals water down financial regulations

The United States pledged on Thursday to keep any new free trade deal from weakening its financial regulations, and said it would press Europe and Asia to match U.S. efforts to make banking and securities trading safer.

Washington is currently discussing potential trade deals with the European Union and with a group of countries in the Asia-Pacific region.

Jack Lew
Pete Marovich | Bloomberg | Getty Images
Jack Lew

(Read more: Economy steady as Fed eyes next move: Beige Book)

"We will not allow these agreements to serve as an opportunity to water down domestic financial regulatory standards," Treasury Secretary Jack Lew said in prepared remarks for a speech in Washington.

"We will press other jurisdictions to match our robust standards—including in Europe and across Asia," he said.

(Watch: The economy is on steroids due to the Fed: Pro)

By Reuters


Contact Politics

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More