You are here
Prices & Quotes
US trying to achieve 'right trade deal' with China, Ross says
By Alexander Bueso
Date: Tuesday 03 Dec 2019
LONDON (ShareCast) - (Sharecast News) - America's top economic official said that Washington was focused on getting "the right deal" with China and kept the door open to the possible imposition of new trade tariffs.
In remarks to Fox Business, US Commerce Secretary, Wilbur Ross, added that his country was focused on reaching an agreement that "meets our requirements for a phase-one" trade deal.
Ross also said he thought that the White House was sitting pretty when it came to the new trade tariffs on Chinese exports taht were set to go into effect on 15 December.
"No one is ordering stuff after 15 Dec [...] very good time if we have to put on more tariffs," Ross said.
China on the other hand was seeing a "quite considerable" hollowing-out of its supply chains, had "a real problem" with its debt levels and consumer confidence in the Asian giant had been "hurt severely", he said.
The Commerce Secretary also defended Trump's decision from the day before to re-impose tariffs on Argentine and Brazilian metal exports in the wake of their weakening currencies.
"He felt he had to do something about it," Ross added.
In parallel, speaking next to Canadian Prime Minister, Justin Trudeau, from London, Trump also emphasised that it was important to "make the right deal".