Mitt Romney leveled some pretty heavy swings at President Obama’s China-related policies on the campaign trail last week, and it appears that the Obama campaign is ready to try and fire back (at least, fire back a bit more seriously than with the defense they tried to scrape together last week, heh). Via The Hill:
Obama is adding the new talking point to his campaign stump speech by touting the administration’s newly filed trade enforcement case against China. …
“And my experience has been waking up every single day doing everything I can to give American workers a fair shot in the global economy. When other countries don’t play by the rules, we’ve done something about it.”
The Obama administration on Monday filed a new World Trade Organization suit charging China provided illegal subsidies encouraging companies to ship auto parts manufacturing jobs overseas. Obama said this action directly affects American workers, including the many factory workers who vote in Ohio. …
The Obama administration’s trade case against China argues Beijing provided at least $1 billion in subsidies from 2009 through 2011, giving its manufacturers an advantage over U.S. competitors.
(Sidebar: While I am never against calling out a communist regime for their unfair trade practices and their central planning, I would merely like to point out that we’re guilty of a good bit of that type of behavior ourselves — and especially under the Obama administration. We’re perfectly familiar with the domestic-subsidy game as well as protectionism; just sayin’, President Obama put up a more than 30 percent tariff on solar panels imported from China in order to cushion all of those yet-to-materialize green manufacturing jobs, and if you really want to encourage innovation and economic growth, that type of stuff is never good — even when it’s supposed to offset stuff that they other guy’s done, it’s a slippery slope.)
Be that as it may, President Obama did issue a campaign-promise to label China a currency manipulator (he has yet to do so), and disparaged President Bush for running up so much debt and subsequently borrowing from China, limiting our capacity to stand tough on their trade policies. Via BuzzFeed:
So then, President Obama, about all of those trillion-dollar deficits…?