In Ohio, Romney, Ryan cast Obama as soft on China
October 13th, 2012
04:13 PM ET
2 years ago

In Ohio, Romney, Ryan cast Obama as soft on China

Youngstown, Ohio (CNN) - Republican running mates Mitt Romney and Paul Ryan sought to cast the current administration as soft on China on Saturday, blaming Democratic President Barack Obama for skipping another opportunity to label China a currency manipulator.

"Over the past several years, the president's failed to call China a currency manipulator," Romney said at a rally in Portsmouth, Ohio. "He had the occasion on Friday to come out with that official designation. Do you know what they said? We're not going to make any determination until after the election."

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"Let me tell you, on day one of my administration I will label China a currency manipulator, we gotta get those jobs back and get trade to be fair," he continued.

The comments from the Republican candidates come a day after the Treasury Department announced it will hold off publishing a twice-yearly report on foreign exchange, due October 15, that often contains criticism of China's currency policies.

"The administration had their eighth chance to label China a currency manipulator," Ryan said at a separate event nearly 300 miles away from Romney, in Youngstown. "That's eight opportunities to say, 'You know what, play fair with us, trade with us fairly.'"

According to the U.S. Treasury, the report will be released after global finance officials from the G-20 leading economies meet in early November.

"We've lost hundreds of thousands of jobs, according to one study, because of just this problem. Two million jobs we've lost, according to the International Trade Commission, because of one country, China, taking our intellectual property rights, meaning taking our patents, taking our goods that we make and copying them and selling them. That's not correct. That's not right. That's cheating," Ryan said in his opening remarks at a town hall meeting in this battleground state.

Ryan misstated data from the U.S. International Trade Commission report. The 2011 report does not assign a number of lost jobs to currency manipulation by China but asserts that the tightening of intellectual property rights could lead to the creation of 2 million jobs in the United States.

The presidential campaigns have accused one another of being weak on China and both candidates have included misleading or disputed information in their television ads on the subject.

Speaking in the hard-hit manufacturing area of Ohio's Mahoning Valley, Ryan emphasized the need to increase manufacturing jobs in order to build a stronger middle class.

Nearly 300 miles southwest of Ryan, Romney said currency manipulation means "that American companies that are making these same products, they go out of business if the Chinese products are so much cheaper than the real costs behind them."

Ryan stressed the need to hold China accountable for its artificially undervalued exchange rate, a practice that negatively affects American producers.

"We are going to stop this kind of cheating from occurring," Ryan said at Youngstown State University. "That's a big deal. That takes our jobs. You have to stand up for the American manufacturing system. Giving good speeches, you know, saying the right thing, that sounds good, but getting it done is what matters."

– CNN Political Producer Rachel Streitfeld contributed to this report

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Filed under: 2012 • China • Mitt Romney • President Obama
soundoff (245 Responses)
  1. SG

    Question for Romney & Ryan: (1). Which company is by far the largest importer from China, thereby leaving millions here jobless. So much so they have super fast ships exclusive for their use for making China to Us trips in just 5 days. (2). Does the Republican Party gladly accept large political contributions from this Company?

    October 13, 2012 07:22 pm at 7:22 pm |
  2. Shirley Canada

    Didn't Romney send jobs to China when he was president of Baines? Many Canadians are following the US election and find Romney & Ryan quite a joke. They are totally out of touch with the rest of the world and have no sense of what it means to be a statesman.

    October 13, 2012 07:23 pm at 7:23 pm |
  3. DPVhome1

    Romaney invested in China and outsource jobs there.

    Obama saved hundered thousands jobs in Ohio. GOP really thinks Ohions are as stupid as they are? NOT!

    October 13, 2012 07:25 pm at 7:25 pm |
  4. larry banal

    romney is the guy who sends jobs there and owns factories...but obama is weak?

    October 13, 2012 07:26 pm at 7:26 pm |
  5. rexdogcanadien

    I guess Mitt has seen the errors of his ways. He has gotten richer by outsourcing American jobs to China. How about repatriating ALL the moneys he has stashed in Swiss and Cayman bank accounts. And make it his duty to render unto UNCLE SAM what is UNCLE SAM,$$$$$$$$$$$$$$$%.

    October 13, 2012 07:28 pm at 7:28 pm |
  6. shrinktofit

    "Over the past several years, the president's failed to call China a currency manipulator," Romney said at a rally in Portsmouth, Ohio. "He had the occasion on Friday to come out with that official designation. Do you know what they said? We're not going to make any determination until after the election."

    "Let me tell you, on day one of my administration I will label China a currency manipulator, we gotta get those jobs back and get trade to be fair," he continued.

    Okay, Mitt, so you're gonna accuse Obama for not doing the same thing you're not gonna do. We all understand your reluctance to say what needs to be said – your reluctance and Obama's reluctance grow from the same root. We'll all wait until after election to see, regardless of who ends up in office.

    In the meantime, your hollow rants make you appear disingenuous at best, deceitful at worse.

    October 13, 2012 07:30 pm at 7:30 pm |
  7. rexdogcanadien

    I guess Mitt has seen the errors of his ways. He has gotten richer by outsourcing American jobs to China. How about repatriating ALL the moneys he has stashed in Swiss and Cayman bank accounts. And make it his duty to render unto UNCLE SAM what is UNCLE SAM'S,$$$$$$$$$$$$$$$%.

    October 13, 2012 07:30 pm at 7:30 pm |
  8. beevee

    These two Romney and Ryan continue to lie to the voting populace about President Obama and none of them were based on facts. If we trust these two liars the middle class and the poor in America are doomed. They are only offering dreams to the poor folks while planning to help only the rich if they get to power. During the VP debate on Thursday Pinochio Ryan told so many lies that by the end of the debate his nose grew to double its size when the debate began.

    October 13, 2012 07:30 pm at 7:30 pm |
  9. PaulC

    The people of Ohio should ask themselves who made millions pioneering the outsourcing of job?

    October 13, 2012 07:31 pm at 7:31 pm |
  10. hoofleau

    The Republicans & Democrats have been all been soft on China for a long time. China is a communist/capitalist nation. They found their niche. Cheap labor and countries willing to buy into it.

    October 13, 2012 07:31 pm at 7:31 pm |
  11. BCInNV

    Romney met with a China to discuss how to devalue America's labor and reduce the value of our exports. He said he doesn't want to be able to higher 10 workers for 1 American dollar like in China, but wants to get closer to 2, or 3, perhaps even 4.

    October 13, 2012 07:31 pm at 7:31 pm |
  12. Indy2016

    Romney has to understand that a market centered heath care system without effective regulations and the capacity to implement them will result in a broken health care system that rewards bad decisions and fraudulent alchemy ( turning garbage into gold as was done prior to and during the recent financial crash), then shifting the inevitable health care losses and costs to the strapped U.S. Taxpayer.

    October 13, 2012 07:34 pm at 7:34 pm |
  13. joesmom

    They dare to slam Obama while Bain raids Sensata Technologies in ILL, forcing Americans to train their Chinese replacements and moving all the equipment to China. Mitt still makes millions off his Bain investments but this garbage continues. How can people vote for Romney? How can Romney look at himself in the mirror? Stunning.

    October 13, 2012 07:37 pm at 7:37 pm |
  14. shrinktofit

    Now, everyone knows China manipulates their currency and have been doing so for years. That's no secret. What to do about it? Throw stuff at them? Anything outside the purview of the WTO is meaningless, and the Obama administration knows this. Apparently Mitt and Paul don't, or don't care to. Going alone on this issue just makes you look like a bully and nobody needs that.

    October 13, 2012 07:39 pm at 7:39 pm |
  15. TonyK

    Google "sensata romney" and see what you come up with–Romney's Bain Capital is up to its elbows in sending US training and jobs to China, currying special favors with the Chinese.

    October 13, 2012 07:39 pm at 7:39 pm |
  16. jeff

    Jobs have gone to China because of Free Trade, not currency alone. In China and other countries companies get 10 workers for the price of 1 American worker. That is why the jobs have gone. We began free trade in the mid-1990's. That is why the jobs have gone now. The answer is obvious and clear: back us out of free trade, put tariffs to balancing things, and the jobs come home. But neither candidate is even talking about backing us out of free trade agreements. Mitt wants companies to be able to profit off cheap overseas labor (as he did), and Obama just doesn't get it – he buys the Ivy League advisers who tell him theoretically free trade is good. And so America will hear all this nonsense about being tough on China from both, but neither candidate is even proposing to address the real issue and back us out of free trade.

    October 13, 2012 07:41 pm at 7:41 pm |
  17. 0RacKL

    I find it incredibly hypocritical that the Romney campaign is suddenly concerned about losing jobs to China when it's well known that China was one of the countries that Romney shipped jobs to as CEO of Bain Capital. This is another excellent example of the pattern - you can't listen to anything this guy says.

    October 13, 2012 07:41 pm at 7:41 pm |
  18. judith

    In Freeport Illinois a Bain owned company is outsourcing a bunch of factory jobs to China. Mitt is still profiting off of these and many other jobs outsourced to China. His hypocrisy has no bounds and that is no doubt why he is still hiding those tax returns.

    October 13, 2012 07:45 pm at 7:45 pm |
  19. jim1316

    Right now in Freeport, Illinois, some 170 workers at an auto sensor plant are sleeping in tents to protest Bain-owned Sensata Technology’s decision to ship their jobs to China.
    Romney claims he knows nothing about this.
    But the New York Times explains: “[Mitt Romney] owns about $8 million worth of Bain funds that hold 51 percent of Sensata’s shares.  If Sensata saves money by closing the Freeport plant, that could add money to Mr. Romney’s trust accounts, now or after the election.”
    This is taking place as Mitt Romney tries to convince people to believe that he doesn’t know about Bain's shipping American jobs overseas.

    October 13, 2012 07:45 pm at 7:45 pm |
  20. Dasea

    Telll your nigerian brothers not to kick white smart guys out of school for bs, bo. I am against you on the grounds of your african blood. And I am not ashamed, after your nigerian brother kicked me out of school.

    October 13, 2012 07:45 pm at 7:45 pm |
  21. L. L.

    China did not just start becoming an economic power in the last three years. Anybody who buys that is dumb as a door nail. Just like Korea did not begin enriching uranium in the last three years, it has been happening for a long time but we were shunning these nations and not talking to them (I guess they really cared) so we did not know what they were doing. Silly us, we thought that we could give them the 'silent treatment' and make them move at our dictate!

    October 13, 2012 07:50 pm at 7:50 pm |
  22. bibleverse1

    A President has little influence on private sector jobs.

    How many jobs did Bain Capital send to China? How many Chinese companies does Mitt Romney hold investments? We all are guilty of not truly understanding the game being played with China. Until we punish businesses for bring good from China and rewarding those that manufacture in US nothing will change about jobs.

    October 13, 2012 07:51 pm at 7:51 pm |
  23. Wire Palladin, S. F

    Mittens outsources jobs to China, invests in a Chinese Oil company doing business almost exclusively with Iran, and they come up with this? You right wingnuts really chose a couple of clowns to run this time.

    October 13, 2012 07:52 pm at 7:52 pm |
  24. incredulous

    Why haven't we seen more of the tape where Romney praises the Chinese sweatshop?

    October 13, 2012 07:58 pm at 7:58 pm |
  25. FredUp2

    Romney should know all about China, seeing how many companies he sent there. He help prop up their economy in doing so, to the point they could outbid companies like Solyndra, driving them out of business. So, it seems Mitt is one person to blame for both of those issues.

    October 13, 2012 08:03 pm at 8:03 pm |
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