Commerce Secretary Wilbur Ross said imposing tariffs on Chinese goods is “not something that’s going to be cataclysmic” in an interview with Maria Bartiromo on Thursday’s broadcast of FOX Business Network’s Mornings with Maria.
WILBUR ROSS: Well the reason for the tariffs to begin with was to try to convince the Chinese to modify their behavior. Instead, they’ve been retaliating. So the president now feels that it’s potentially time to put more pressure on in order to modify their behavior.
We have to create a situation where it’s more painful for them to continue their bad practices than it is to reform them. That’s the purpose of the whole exercise. …read more