Romney, Ryan Smack Obama on China

Romney would label China currency manipulator 'on day one'

By Evann Gastaldo,  Newser Staff

Posted Oct 13, 2012 4:54 PM CDT

(Newser) – Both Mitt Romney and Paul Ryan had harsh words today for President Obama's handling of the US relationship with China, after the US Treasury announced that it would delay a regular foreign exchange report—which includes the possibility of naming China a currency manipulator—until after the election, NBC News reports. Both Obama and his predecessor George W. Bush have stopped short of using the currency manipulator label, Reuters reports.

  • "Four years after promising to take China 'to the mat' for its manipulative currency practices, President Obama has once again failed to live up to his word," a spokesperson said in an official campaign statement. "We can't afford another four years of President Obama's failure to stand up to China. Mitt Romney will do it on day one of his presidency." Romney himself made the "day one" promise at a campaign stop in Ohio, saying he would act immediately to "label China a currency manipulator."
  • “The administration had their eighth chance to label China a currency manipulator—it's due in two days—they say they are going to push this deadline off until after the election. That’s eight opportunities to say, 'You know what, play fair with us, trade with us fairly,'" said Ryan during another Ohio campaign stop. "We are going to stop this kind of cheating from occurring, if people are manipulating our currency, we are going to say that they are manipulating our currency. If they are stealing our products, we are going to say, 'Stop stealing our products or else you have consequences.' That’s a big deal. That takes our jobs."

Mitt Romney and Paul Ryan campaign in Lancaster, Ohio, Friday, Oct. 12, 2012.
Mitt Romney and Paul Ryan campaign in Lancaster, Ohio, Friday, Oct. 12, 2012.   (AP Photo/Charles Dharapak)
Mitt Romney speaks during a campaign rally with his running mate Rep. Paul Ryan, R-Wis., left, Tuesday, Sept. 25, 2012, at Wright Brothers Aviation in Vandalia, Ohio.
Mitt Romney speaks during a campaign rally with his running mate Rep. Paul Ryan, R-Wis., left, Tuesday, Sept. 25, 2012, at Wright Brothers Aviation in Vandalia, Ohio.   (AP Photo/Al Behrman)
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