Incoming US commerce secretary Wilbur Ross has quickly revealed that he will be seeking to reset trade policies with China, adding that China needs to improve its treatment of the US, its largest customer. If Ross's nomination is confirmed, he is expected to focus on reform to tariffs on steel imports to the US, although the 35% tariff Donald Trump referred to in his presidential campaign may only have been a negotiating tactic, Ross conceded. He also pointed to simultaneity in the half countries buying each other's assets and reciprocity of trade agreements as areas that he would be looking at.
Incoming US commerce secretary Wilbur Ross has quickly revealed that he will be seeking to reset trade policies with China, adding that China needs to improve its treatment of the US, its largest customer. If Ross's nomination is confirmed, he is expected to focus on reform to tariffs on steel imports to the US, although the 35% tariff Donald Trump referred to in his presidential campaign may only have been a negotiating tactic, Ross conceded. He also pointed to simultaneity in the two countries buying each other's assets and reciprocity of trade agreements as areas that he would be looking at.