A+ A-

US commerce chief nominee warns nations with unfair trade

WASHINGTON, Jan 18 (KUNA) -- President-elect Donald Trump's pick for commerce secretary Wilbur Ross said on Wednesday that the US would welcome countries "who play fair" to its markets, but those who do not will be "punished severely." "I am not anti-trade, I am pro-trade, but I am pro-sensible trade not pro-trade that is to the disadvantage of the American worker in the American manufacturing community," he told a Senate confirmation hearing.
"I think we should provide access to our markets to those countries who play fair, play by the rules and give everybody a fair chance to compete. Those who do not, should not get away with it, they should be punished severely," he said.
Ross went on to single out China as the "most protectionist country," which has "very high tariff barriers and very high non-tariff trade barriers to commerce." "They (China) talk much more about free trade than they actually practice," he suggested, adding the US would like to "levelize" the playing field.
During his presidential campaign, Trump had voiced the same concerns he had claimed against China's trade policies.
In a four-point policy he said would give the US a more competitive economy, he said this includes annulling some regulations, a self-sufficient energy policy, supporting trade balance by increasing exports and newer infrastructure.
On the infrastructure, he said the US is "fortunate" to be facing infrastructure in a "relatively low interest rate environment." "That will facilitate getting a lot of projects done that could not be done in a lower interest rate environment because there would be a crowding-out effect," he said.
However, he mentioned many cases where there "will be a need either for the public policy decision to have government play a direct role or for a way to encourage private sector to participate." (end) sd.gb