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Tags: wilbur ross | trump | china | deal | tariffs

Commerce Sec.: Trump in 'Good Negotiating Position' With China

 Commerce Secretary Wilbur Ross is shown.
Commerce Secretary Wilbur Ross (Eraldo Peres/AP)

By    |   Tuesday, 10 December 2019 08:38 AM EST

President Donald Trump is in a "very good negotiating position" as the looming Dec. 15 deadline for new China tariffs approaches, Commerce Secretary Wilbur Ross said Tuesday. 

"The important thing is to get a proper deal with China, whether we get it the day before Dec. 15, the day after, or a week after is much less important than getting the right deal," Ross told Fox Business' Maria Bartiromo. "Our economy is booming. You saw the 266,000 jobs (Trump) created in the most recent month. China's economy has got its problems."

Agriculture Secretary Sonny Perdue said Monday the U.S. is not likely to impose extra tariffs on $160 billion in Chinese goods, including toys and smartphones on Sunday, when the deadline hits. Ross Tuesday said China's economy is slowing down. 

Meanwhile, the United States will next be turning its attention to the European Union and England, and any deal there depends on how Brexit comes out, said Ross. Still, he said, the easiest deal for the United States will be with the United Kingdom. 

Ross also commented about the progress in phase one of a trade deal with China, which will not address the issue of intellectual property theft in full, but instead will concentrate largely on trade. 

"We're having very good discussions on intellectual property and it's more than just the theft," said Ross. "It's the forced technology transfers, it's the equal competition, it's procurement regulations, it's a whole lot of things. There may be some of that addressed in the ultimate phase one. But for the most part, the harder issues are for later on."

When it comes to trade, Ross said market access is tied to a commitment to purchase $40 billion to $50 billion more in agricultural goods. 

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Newsfront
President Donald Trump is in a "very good negotiating position" as the looming Dec. 15 deadline for new China tariffs approaches, Commerce Secretary Wilbur Ross said Tuesday. 
wilbur ross, trump, china, deal, tariffs
293
2019-38-10
Tuesday, 10 December 2019 08:38 AM
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