Rubio: 'I Agree with Obama' on China Currency Issue

National Journal

Sen. Marco Rubio, R-Fla., on Tuesday said Mitt Romney’s policy toward China “could kick off a trade a war that would be bad for the economy." 

Romney has vowed to declare China a currency manipulator on the first day of his presidency for artificially depressing the value of its currency.

China's currency manipulation makes its products cheaper, boosting Chinese exports while contributing to its trade surplus with the United States and other partners.

While the president has filed trade complaints against United States’ second-largest trading partner in specific industries like automobile and solar panels, he has not declared the country a currency manipulator, a move that could further strain the countries’ trading relationship.  

“I agree with Obama one that one,” Rubio told Bloomberg of the president’s refusal to escalate the trade dispute.

The Obama campaign has repudiated Romney’s calls for such a declaration, saying it would constitute a “hostile action.”

 

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