President Barack Obama's re-election campaign is launching a new attack on Republican rival Mitt Romney's business record.

In a television advertisement released Tuesday, the campaign says Romney invested in companies that moved jobs overseas and supports tax breaks for companies that do so. The ad, titled "Believe", says Obama believes in "insourcing" and favors tax cuts for companies that bring jobs back to the U.S.

Democrats believe a drumbeat of ads accusing Romney of shipping U.S. jobs overseas is starting to take hold in battleground states and impact voters' views of the presumptive GOP nominee.

The ad is running in nine politically important states, including Colorado and Virginia.