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"It is Alice in Wonderland logic to say that when the Chinese manipulate their currency, it helps our exports".
Opponents of the deal, including many unions, argued it did not protect against countries that manipulate their currency and foreign companies suing, in special tribunals, for exemptions to various US rules.
And that is just part of a fusillade of soft-on-China accusations that Mr. Romney has leveled at Mr. Obama, who he says has allowed the Chinese to manipulate their currency, distort fair trade, steal American technology and hack into American government and corporate computers.
After Mr. Romney finished up a brief, 10-minute speech at the Tampa Port Authority Tuesday afternoon — calling for bilateral trade agreements with other nations, a "Reagan economic zone," and for punishing countries like China that manipulate their currency — he began to work the rope line as the small group of gathered reporters began peppering him with questions.
Portman defended his amendment, which is targeted at China, telling reporters: "The administration says they want to build a consensus on trade and we need to deal with all of the unfair trade practices including countries that manipulate their currency to make their imports less expensive and our exports more expensive".
American critics Bernie Sanders, earnestly; Donald Trump, cannily argue that trade decimated U.S. manufacturing by forcing American products into competition with countries where wages, labor, and environmental standards are not nearly as strong as those in America, or by ignoring how some countries, especially China, manipulate their currency to encourage exports.
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And elsewhere Japan, South Korea, Taiwan, Thailand and Colombia have all been criticised for trying to manipulate their currencies.
Still, a Senate bill, with strong bipartisan support, to punish countries that manipulate their currencies is a bad idea.
Lamy expressed concerns that attempts by countries to manipulate their currencies could hinder trade and foster protectionism.
With China in their sights, American senators passed a bill earlier in May that could lead to sanctions against foreign countries deemed to manipulate their currencies.
Congress has pushed a more aggressive approach, repeatedly putting forward bipartisan bills to punish countries, like China, that manipulate their currencies.
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Justyna Jupowicz-Kozak
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