If it's a global issue like that, your exchange rate should make your adjustment for you. You shouldn't be trying to do it through your micro policies. You shouldn't do it by screwing one group in your society for the benefit of another. It's why exchange rates exist, and how they work and how they are determined. They should bring about equilibrium on the relative productivity or competitiveness level.
On March 14th, 2012. See this statement in context.