WASHINGTON – Commerce Secretary Wilbur Ross said Tuesday that imposing substantial tariffs on China not only has helped trade between the U.S. and China, but also revived the U.S. economy.
Some Trump administration critics have said the recent U.S. trade war with China has led a decline in American dominance in global trade market.
But Ross, speaking at an event hosted by the Federalist Society, a group of conservatives and libertarians, said “we are turning the tide toward a far more prosperous and hopeful future.”
The commerce secretary criticized liberals for not acknowledging the Trump administration’s success on the economy. “You’d never know (the economy is strong) by listening to liberal politicians on impeaching the most successful president since Ronald Reagan nor to the left-wing media’s desperate efforts to frighten Americans into a recession,” he said.
He said that imposing tariffs in China made the U.S. leadership in the trade sector stronger. “I believe China came to the negotiations mainly because we imposed substantial tariffs on them,” said Ross. “A given amount of tariff on product hurts them far more than it hurts us.”
“Fear of tariffs also caused the EU recently to agree to buy more egg products from us and to begin negotiations on other topics, and it is the reason why japan agreed to buy more meat,” He said.
Ross said the Trump administration is focusing more intently in trade than any prior administration, which has caused some short-term costs but offers greater potential long-term gains.
Another speaker, Ronald A. Cass, president of Cass & Associates, said trade deals also should take into account national security threats from Chinese goods.
“We have to be aware that this affects a lot of products coming into the U.S. particularly in the information and communications technology sector,” said Cass. Products from China “have been found to have back doors in their software or flaws in their construction that allow security threats” to the United States.
Donald B. Cameron, partner of Morris, Manning, & Martine, LLP, criticized the Trump administration for ignoring “fair trade” and following policies that hurt both the manufacturing and agriculture industries.