WASHINGTON, Feb. 3 Kyodo
President Barack Obama on Wednesday vowed to get ''much tougher'' against China in enforcement of international trade rules and correction of the value of its currency.
Obama told an annual meeting with senators from his Democratic Party that Washington will do its utmost to pry open markets of China and other trading partners.
''So the approach that we're taking is rolex replica to try to get much tougher about enforcement of existing rules, putting constant pressure on China and other countries to open up their markets in reciprocal ways,'' the president said during the meeting, broadcast live by CNN television.
Obama also expressed concern that competition in international trade has been hurt as China's yuan has been undervalued against the dollar and other key currencies.
''One of the challenges that we've got to address internationally is currency rates and how they match up, to make sure that our goods are not artificially inflated in price and their goods are artificially deflated in price,'' he said. ''That puts us at a huge competitive disadvantage.''
Obama expressed confidence that U.S. products will be internationally competitive if China and other countries enforce existing trade rules and open their markets.
''I think we've got the best workers on Earth, we've got the most innovative products on Earth, and if we are able to compete on an even playing field, nobody can beat us,'' the president said.
replica breitling U.S. makers have accused Beijing of manipulating its currency rate thus giving its companies an unfair price advantage in international trade.
Apparently reflecting the view of U.S. manufacturers, Senator Arlen Specter from Pennsylvania, a steel industry state, asked Obama if he would support a proposal
embroidered patches to revoke a trade treaty with China.
''We have lost 2,300,000 jobs as a result of the trade imbalance with China between 2001 and 2007,'' the senator said. ''We have China violating international law with subsidies and dumping, really a form of international banditry. They take our money, and then they lend it back to us, and own, now, a big part of the United States.''
But Obama dismissed the proposal saying revoking the trade ties with China would be ''a mistake.''
''Our future is going to be tied up with our ability to sell products all around the world, and China is going to be one of our biggest markets and Asia is going to be one of our biggest markets. And for us to close ourselves off from that market would be a mistake,'' the president said.
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