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Wilbur Ross: Trump Needs Raise Tariffs On Chinese Goods

U.S. Commerce Secretary Wilbur Ross discusses why President Trump needs raise tariffs on Chinese goods.

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Wilbur Ross: Trump Administration Needs Raise Tariffs On Chinese Goods

Transcript

Our top story tonight President Trump proposing an increase in tariffs on Chinese imports into this country from 10 to 25 percent. The U.S. Trade Representative Robert Leithauser released a statement saying in part this quote. The Trump administration continues to urge China to stop its unfair practices to open its market to engage in a true market competition. Regrettably instead of changing its harmful behavior China has illegally retaliated against U.S. workers farmers ranchers and businesses.

Chinese officials responded to the proposed increase calling it quote blackmail and saying they would respond with retaliatory measures. Joining us tonight to give us some inside views from the administration's perspective the U.S. Commerce Secretary Wilbur Ross. Secretary great to have you with us. Good to be on increasing the tariffs. The Chinese have been recalcitrant. They obviously have not been forthcoming in reducing barriers both trade barriers as well as specifically limitations on U.S. exports. What choice does the administration have here vote to raise tariffs and to make them if you will feel that we really have to do it.

Lou the president ultimately ones less tariff less nontariff trade barriers a level playing field no subsidies. The whole nine yards. But to get there we have to make it more painful for them to continue these bad practices than to modify them. That's what this is all about.

And at what point do you think that the Chinese are going to come to their senses and understand because they have been spoiled. The president has noted by previous administrations who rolled over for anything the Chinese wanted. There has been no prosecution of the Chinese espionage front companies in this country stealing everything from technology to trade secrets some 600 billion in intellectual property every every year in addition to the trade surpluses they've been running against this country from the moment they entered the WTO almost two decades ago.

Well you have to go back to that very day when they came in. The idea of bringing them in and the theory that they would now play by the rules was a terribly flawed theory and the foolishness was not to have a real enforcement mechanism in case the theory proved untrue as it has proven to be. That was the double flaw in what was done then but because it's gone on for so long that it's going to take a lot of effort to make them reconsider what they're doing. They know very well what they're doing.

There's no intellectual problem is just we need to give them enough motivation to fly right and fly right is something that is not obviously either comprehended or comprehended and not respected or acknowledged by the national left wing media who seem to be incapable of doing basic mathematics. But for that matter so are the Koch brothers challenged particularly Charles Koch the head of Koch Industries attacking the president the administration's tariffs saying that they are ridiculous saying that they harm.

He's not concerned about harming American workers and the middle class and businesses he's worried about foreign workers and foreigners.