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. Pragmatist

    These two Republican hypocrites now lamenting about American jobs going overseas, and American manufacturing suffering, are the same guys who were making that happen by their very actions. Romney with Bain became a millionairre by gutting US companies and shipping jobs overseas for his own profit. Sure he shared some of his loot with his Mormon brothers, he treats them differently and I bet they are not in the 47% he does not care for. Americans will soon chose a leader and this selection will say a heck of a lot about how smart Americans are. If we are destined to be a basket case, the empty headed hypocritical party will win.

    October 13, 2012 08:05 pm at 8:05 pm |
  2. Andrew

    What does Mittens propose to do if China starts asking for the money we owe them?

    October 13, 2012 08:05 pm at 8:05 pm |
  3. OHOHOZO

    The only way to keep jobs in the US is: stop bail out the companies that associate with China and UNFAIR China trade favorite.

    October 13, 2012 08:05 pm at 8:05 pm |
  4. ThinkAgain: Hey, networks, fact-check the debates in real-time and put it in the crawl!

    I guess "hard on China" would be outsourcing American jobs there – like Mittens did.

    Obama/Biden 2012 = The only sane choice

    October 13, 2012 08:05 pm at 8:05 pm |
  5. DVA

    It is said that Romney has $8 million interest into the Bain Company move from Illinois to China. Romney continues to move American companies to China and stands to make millions more from these moves. Yet he and Ryan want to state that Obama is soft on China.......Why is this not made more public in the media. American workers continue to suffer the consequences of Romney business policies, lose their jobs to China, are reported by Romney and Ryan to be the takers and 47 percenters who want to take no responsibilites for themselves and expect only government to continue handouts....where is the media on these stories? Wake up people and investigate all of these lies and how Romney/Ryan big money is taking advantage of the uninformed voters in America. I can see why Romney won't give his tax results, there is much more to his interests in foreign companies than meets the eye and why does he not invest his money in America instead of stashing all of it in Swiss banks and other off shore banks? So many honest middle class working Americans stand to lose so much more if Romney is elected. I am fearful we will suffer greatly in many ways. Open your eyes and minds and seek the truth before voting, DEMAND THE TRUTH....

    October 13, 2012 08:09 pm at 8:09 pm |
  6. Joshua

    While at Bain Capital, Romney's company (which he owned) invested in companies that outsourced their jobs to Asia, Europe, and Australia. It is hypocrisy to criticize Obama for not waging "war" on China.

    October 13, 2012 08:10 pm at 8:10 pm |
  7. Kemikal

    I guess he'll get tough on them by outsourcing more jobs to them.

    It's sad, you figure Republicans would have jumped at the chance to assist the historical, first African-American President in making his presidency a success, by working with him. Ensuring that the American people received the best overall effort from both parties; but they didn't. They chose not to work with him before he even took office. They also chose to make him the most disrespected president in U.S. history. The blame for the slow economic recovery continues to be cemented at his feet. People, why continue to support a Political Party which does not support the United States of America? For as much as I would like Pres. Obama to win, I want him to lose that much as well; simply so that YOU all can see how much these people care about America. THE AMERICAN PEOPLE come FIRST! Republicans of today will NOT do that!

    October 13, 2012 08:12 pm at 8:12 pm |
  8. currencytrader

    In currency dealing room, traders think otherwise. The Quantum Easing 1, QE2, QE3 and making interest artificially low is no China. All these are not market-driven but artificial, political action.

    So when Washington says other countries are manipulating their currencies. The fact tells otherwise. US is the largest currency manipulator.

    October 13, 2012 08:14 pm at 8:14 pm |
  9. Lost

    Is this any worse than his opponent's outsourcing of jobs to China!?

    October 13, 2012 08:20 pm at 8:20 pm |
  10. Patriot

    Simple minded drivel aimed at stirring up the base. Thank heavens the good folks in Ohio are wise to flip and flop and will vote Obama Biden.

    October 13, 2012 08:20 pm at 8:20 pm |
  11. jeansees

    The Tax Policy Center paper that sparked this discussion found that Romney's plan couldn't work because his tax rate cuts would provide $86 billion more in tax relief to people making over $200,000 than Romney could recoup by eliminating tax expenditures for that group. That means his plan is necessarily a tax cut for the rich, so if Romney keeps his promise not to grow the deficit, he'll have to raise taxes on the middle class.
    Good point (0)
    Reply
    report abuse

    Jeansee

    Oct 13, 2012 – 10:47:57 AM

    Freeport, Iowa... Plant scheduled to close November 5,2012 Owned by Bain Corp. Mitt Romney owns 51% of controlling stock shares and stand to make a whopping 8 Billion dollars off the shipping of these auto parts jobs to CHINA!!!!!!

    October 13, 2012 08:21 pm at 8:21 pm |
  12. Chuck

    Obama is soft on China? Meanwhile,Romney has exported so many jobs to China as a Bain executive and now this master chameleon candidate is suddenly anti China? didn't you guys listen to that hidden dinner recording? He praised China's exploitation model. Stop falling for Romney's lies.

    October 13, 2012 08:21 pm at 8:21 pm |
  13. Jim

    To those folks that think Obama is "soft" on China, we are not in a position of leverage. I suggest you folks that really want to do something about our submissive position to China to just stop buying Chinese crap. Change the balance.

    October 13, 2012 08:26 pm at 8:26 pm |
  14. Anonymous

    Oh I thought the Republicans were saying that people in America are only concerned about jobs right now!! Oh but now it's China all of a sudden. This sounds like Romney's agenda and this is what you are putting on your front page CNN? What's Romney gonna do?!? keep saying all of these insulting things about China to the point they just want to strike us off the map? Keep on running your big loose lips mouth Romney.. you need to tone down the rhetoric now.. You are conjuring up another war that America does not need right now. You sir are actually putting us in harms way with your big stick talk. Not looking too Presidential!

    October 13, 2012 08:32 pm at 8:32 pm |
  15. John

    Romney is a true American ...he know about economy and he will fix it..when economy is doing better everybody are doing better...dont you people see????? what Obama did for the las 4 years so i am not worry about my job??? nothing!!!!!!wake up..Obama only knows how to talk nice speeches thats it!!!!!He promissed uu all that and what??? nothing!!!!!!I dont trust him anymore

    October 13, 2012 08:34 pm at 8:34 pm |
  16. DonJuan1943

    Mitt Romney's company Bain Capital has been sending jobs to China for years. Romney currently stands to make one million dollars as Bain Capital sends Sensata Corp. from Freeport, Illinois to China. That move destroys 170 jobs and robs the workers of their pensions. Thanks Mitt.

    October 13, 2012 08:41 pm at 8:41 pm |
  17. Mike

    Obama is leading in every demographics of likely voters just, he is behind only in WHITE MALE VOTERS (about 65-35), which happens to have the lowest unemployment rate.I cant understand why this block don't want to give him another chance given the fact Obama has 34 straight months of Job gains.

    October 13, 2012 08:45 pm at 8:45 pm |
  18. kae

    Ummmm this from former Bain Capital CEO who outsourced jobs to China! He still has stock in BAIN and they just closed a company in Illinois. Are you people really going to fall for this dude's lies?

    October 13, 2012 08:45 pm at 8:45 pm |
  19. bob

    Obama soft on China, that's ridiculous. The person who's soft on China, is the one who has outsourced jobs to China, and that is Mitt Romney. Do you really think he cares anything about you, all he cares about is his own personal well being and how he can become richer and more powerful. This is not the type of person I want to be leading this nation, I want someone I can Trust, and right now that's President Obama.

    October 13, 2012 08:49 pm at 8:49 pm |
  20. PK

    From what I understand China is keeping the US afloat with it's financial support. Don't think we should bite the hand that feeds us!

    October 13, 2012 08:56 pm at 8:56 pm |
  21. Jerry from Dallas

    Romney and his Bain Capital have heavily invested in China. If true to his words,Romney should be telling us about the number of companies affiliated to his Bain Capital that will relocate BACK to US on day one. He moved jobs to China. Let him sign a written agreement like he did with Grover Norquist that if elected he will bring back all BAIN CAPITAL investments home.

    October 13, 2012 08:59 pm at 8:59 pm |
  22. AnAmericanWHocares

    Wow this guy is just lining up the wars he plans to get us into ...he cant even wait to see if he will win. WIll you be okay with it when Romney sends your son or daughter off to war?

    October 13, 2012 09:02 pm at 9:02 pm |
  23. Reality check

    Don't believe the polls at all. They only poll people with landlines, they do not poll the many people, more all the time, that only use cell phones, So if those polls show it close with the old folks, just think what the polls would show if you throw in more of the younger generation.

    Obama in a landslide.

    October 13, 2012 09:04 pm at 9:04 pm |
  24. Bernard obryant

    They believe china violet there copy right produce against the usa. Wit it cheap produce

    October 13, 2012 09:06 pm at 9:06 pm |
  25. ralphe young

    Kind of hard for any party to come down hard on China when they own 65% or more of our
    dept

    October 13, 2012 09:07 pm at 9:07 pm |
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