Romney Campaign Press Release - Romney for President Releases New Web Video, "Obama Isn't Working: Trade"

Today, Romney for President released a new web video, "Obama Isn't Working: Trade." The video highlights China's stealing of intellectual property and President Obama's failure to confront China.

To View "Obama Isn't Working: Trade," Please See: http://mi.tt/nT7cBB

Script For "Obama Isn't Working: Trade"

CAMILLA HERRON: "People in China identified Apple products being sold in certain stores. And following the investigation, it turned out these entire stores were counterfeit. Apple went in and investigated and the prevalence of the stores just show how epidemic this has become that a company like Apple who is focused on solving this problem still finds these surprises in the marketplace."

HERRON: "My name is Camilla Herron. I investigate people that manufacture, distribute and sell counterfeit products globally and I work with federal and state law enforcement. The experts say that almost 70% or more of the value of any company is in their intellectual property. It's not in their buildings, or their office space. It's in their intellectual property."

VIDEO TEXT: "China: The Intellectual-Property Battleground"

• "China: The Intellectual-Property Battleground" (James Dyson, "China: The Intellectual-Property Battleground," Bloomberg Businessweek, 2/16/11)

HERRON: "And once you put that at risk and it's gone, you don't get it back. And if you look at what China is doing they are subverting us on every level."

VIDEO TEXT: "750k Jobs Lost Due To Counterfeiting"

• "Counterfeiting Costs U.S. Businesses As Much As $250 Billion Every Year And Results In The Loss Of 750,000 Jobs, According To FBI Estimates." (U.S. Chamber Of Commerce, "U.S. Chamber Urges Congressional Action on Counterfeiting," Press Release, 3/17/05)

HERRON: "The U.S. Chamber of Commerce estimates between 750,000 to a million U.S. jobs are lost a year due to the counterfeiting. Even huge companies that are globally visible, for example Google, who is a very large employer here in the Bay Area, has challenges in China."

VIDEO TEXT: "Trade Deficit With China: $273 Billion – Largest In History"

• The 2010 Trade Deficit With China Was $273 Billion. ("U.S. Trade With China," U.S. Census, 10/12/11)
• "The U.S Trade Deficit With China Hit A Record $273 Billion In 2010." (Steve Bennish, "Industrial Power Use Plummets," Dayton Daily News, 9/25/11)

HERRON: "Anything that will generate revenue is being counterfeited and the vast majority of it is coming out of China. Currently, I don't see President Obama doing anything to address this issue."

VIDEO TEXT: "Industries Are Being Robbed On The Floors Of Chinese Factories"

• "America's Most Innovative Industries Are Being Robbed Every Day On The Floors Of Chinese Factories." (Ted C. Fishman, "How To Stop Intellectual Property Theft In China," Inc. Magazine, 6/1/06)

HERRON: "I don't recall him ever calling the Chinese out on any of these issues. The public is not being made aware of the job losses. 750,000 a year to a million job losses. That's a huge issue in this country. Innovation leads to new products, new products lead to manufacturing, manufacturing leads to jobs in distribution. Even retail clerks stocking shelves. Everything. If we don't stop the hemorrhage of intellectual property in the next three to five years we will have reached a point of no return."