Romney Campaign Press Release - Mitt Romney: The President Has Failed to Stop China From Cheating

Remarks

Portsmouth, Ohio

October 13, 2012

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MITT ROMNEY: "We want to make sure that when people cheat, when they don't follow the rules in trade, we finally hold them accountable. It's time for us to stand up to China for their cheating. It's got to stop. The President had an opportunity, was required, as of last Friday to officially designate whether China is a currency manipulator. Let me tell you what that means, by the way. When a country artificially holds down the value of their currency, it means that the products that they sell to us are artificially cheap. And that means that American companies that are making these similar products, they go out of business if their Chinese products are so much cheaper than the real costs behind them. And yet over the past several years the President has failed to call China a currency manipulator. He had the occasion on Friday to come out with that official designation. 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."