(CNN) – The latest ad from Mitt Romney's presidential campaign hits President Barack Obama for his stance on China, which the ad characterizes as devastating to the American manufacturing sector.
"Under Obama, we've lost over half a million manufacturing jobs," a narrator in the ad says. "And for the first time, China is beating us."
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The spot cites figures showing China becoming the world's top manufacturing country in 2011, which that narrator casts as a result of Obama refusal to "stop China's cheating."
That's a reference to decisions made by the U.S. Treasury not to label China a "currency manipulator," a designation that would allow the U.S. to more directly confront China over actions that have cheapened their exports, undercut the prices of American goods and produce economic growth rates several times that of the U.S.
Some critics warn that labeling China a currency manipulator could risk triggering a trade war. China could retaliate by launching tariffs of its own.
In a statement responding to the ad, Obama campaign spokeswoman Lis Smith said, "President Obama has always stood up for American workers, regardless of politics. He's filed seven trade complaints against China, bringing cases at twice the rate of the Bush Administration."
"The job losses that his new ad references occurred in the first months after the President took office," Smith said. "Now, American manufacturers have added half a million jobs since January 2010 – the fastest manufacturing job growth since the 1990s."
The claims in the television ad were echoed by the candidate on the trail Thursday in Virginia, when Romney told a crowd of supporters "If a nation cheats like China has cheated, we call them on the carpet and don't let it continue."
"The president has had the chance year after year to label, to label China a currency manipulator, but he hasn't done so and I will label China the currency manipulator they are on the first day," he continued.
Similar criticism from Romney has been met with sharp rebukes in the past from the White House. In May, White House Press Secretary Jay Carney said, "Despite his tough talk now, Gov. Romney wasn't always for enforcing trade laws against China."
"In his book, Gov. Romney attacked the president for standing up for American workers and businesses by enforcing trade law against China, even calling it 'bad for the nation and our workers,'" Carney told reporters.
CNN Money's Annalyn Censky and CNN's Kevin Liptak contributed to this report.
Romney the Puppet Liar is at it again. Is he really trying to blame Obama for outsourcing jobs? Oh Mittie, you slick devil you!
How many of those millions of jobs did Bain ship overseas? The real issue is that all American companies have plants in China and they make stuff and ship here. Why? They do not want to pay good middle class wages for manufacturing jobs because that cuts into profits. Crybabies. Ethan Allen used to make great furniture in Vermont. Those plants are closed and Ethan Allen is now having the furniture made in China. Yes, the quality is good. But even if I could afford Ethan Allen furniture, I would not buy it. I prefer to buy American made. That is a prime example of a US company having China make stuff for sale here. So why is everyone getting upset? our coporations (which are not people) shifted production over there intentionally. We did it to ourselves. So Romney, shut up until youhave a better plan.
Currency manipulation, eh? Sounds like a nice phrase for labeling the act of abusing offshore bank accounts and tax shelter loopholes to manipulate your tax liability on millions and millions of dollars in income and assets in order to bring your effective tax rate lower than the average middle-class family.
Mitt did you forget China send a thanking card to you for the jobs
Romney is oblivious to the effect his rhetoric is having on the world. Whether he does or does not get elected, he's making it harder on *whoever* is President from Nov on by alienating the world from the US with his foot in mouth blabbering. He's a poster child for America haters everywhere because of his mouth.
You can give a failed governor of MA, $2 billion to get elected, but he is still stupid, and has no understanding of foreign policy, job creation, national debt, and the middle class.
I channel surf whenever one of thes lame Romney ads appears....
What a Stretch Mr Etch a Sketch! Oh, your Tax Retruns are OVER DUE!
On the issue of chetaing, Mr. Romney, show us your tax returns.
Blame your 401k's, The US Chamber of Commerce, and good old fashioned GREED for the loss of manufacturing jobs in this country. Oh yeah, the candidate who has experience in so called job creation pioneered this!
AMERICA WANT TO KNOW!!!!!
Mr. Romney show us your jobs plan. Maybe you would also like to explain why you shipped jobs to China when you headed Bain. Show us how you are going to save America why giving more tax breaks to the rich. Explain again how the trickle down works.
from a ceo who outsourced jobs to China? sure takes a lot of brass....nevermind!
Biden and Beyonce said it and Pelosi agreed....it must be true!! HA, HA , HA....
Romney ad showed he don't have a clue about the American manufacturing sector. For more than ten or more years China is beating the US in manufacturing, company has move jobs over seas this just start with President Obama. Some of Romney company he was CEO of ship jobs to China.
Romney campaign officials repeatedly declined requests to comment on Bain’s record of investing in outsourcing firms during the Romney era. In response to detailed questions about outsourcing investments, “Bain Capital’s business model has always been to build wealth for their small group of investor using the global market. They have no loyalty to the United States Government nor it's people.
OMG the Loose Cannon has emerged.....it's been a beautiful day till now!!
Does The Mitten have a message in this campaign? he is ALL over the place
Show us your tax returns for the last 20 years Willard!!! You are a criminal for not disclosing your off-shore accounts.
We're lucky it has slowed to only 1/2 million jobs outsourced!! The bulk of the outsourcing began long before President Obama took office, Mittens. For years before Obama was elected, I watched so many co-workers lose their jobs to China, India, etc. Then I watched even more co-workers have to travel to these countries to train the people who took those jobs and correct the pathetic quality of their workmanship and materials. The money spent on travel alone would have covered the salaries of those U.S. workers who were let go!!!
Just how many American jobs did YOU help outsource to other countries? Hmmmm? How many, Mitt?
Does Mitt or the Repubes have any ideas?? NO. All they know how to do is make excuses and blame. American's are stupid if they can't see this!! Before some rigtt wing nut says something about my name, yes I am an American!!!
Does Romney really want to go there with "CHINA?"
Blah, blah, blah ... let's get this vote over and get on with recovering the country from eight years of GWB. (Yes, Jeb, this economic disaster is STILL your brother's fault.)
It seems Marathon Man is in DC today.......making sure he can keep his day job!!
Is Romney stupid or what?
Not only does Romney outsource jobs, he also outsources his money to Switzerland, Cayman Island, Bermuda and he's probably invested in China. Romney is a liar and a fraud flying around in an aircraft saying "believe in America" when it should say "Believe in The Cayman Island".
Romney sent many a job to China so he could make more money himself, pretty much pioneered the idea of offshoring.