Ryan Slams Obama's Stance on China

Obama soft on 'cheating' China, which is hurting U.S. manufacturing

Republican vice presidential nominee Rep. Paul Ryan told Ohio voters Saturday that China’s unfair trade and currency practices are hurting the U.S. manufacturing sector and vowed that if elected he and Mitt Romney would “hold cheaters accountable.”

Ryan, R-Wis., made his pitch one day after the Obama administration announced it would delay a decision due Monday on whether to declare that China is manipulating its currency to gain trade advantages.

“The administration had its eighth chance to label China a currency manipulator,” Ryan said during a rally at Youngstown State University. “And they’ve indicated 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.’ ”

The report examines the foreign exchange practices for major U.S. trading partners and has previously cited China for failing to allow its currency to appreciate more rapidly.

The Treasury Department now says the decision will come after finance ministers and central bank presidents meet Nov. 4 -5 in Mexico City. 

The agency said the delay would allow the administration to "assess progress" following the discussions of officials in the Group of 20 nations, which includes China.

Romney has already attacked the administration for not targeting China for unfair trade practices and is expected to renew the attack during an economic speech next week.

Ryan on Saturday also told potential voters in Ohio – a hub of U.S. manufacturing and rich in mineral resources – that China is hurting the middle class and a vital part of the U.S. economic by stealing secrets to make then sell less expensive goods in the global market.

“We need a strong manufacturing base in American if we want a strong middle class in America,” Ryan said.

Via: Fox News

Continue Reading...