Home GRASP GRASP/China Wilbur Ross calls China 'the most protectionist country'

Wilbur Ross calls China 'the most protectionist country'


NewsHubSpecifically, Ross pointed the finger at China, whom he called “the most protectionist country of very large countries. ”
Ross’s comments come after China’s President Xi Jinping sought to cast himself as a fierce defender of free trade. “Whether you like it or not, the global economy is the big ocean you cannot escape from,” Xi said in a speech on Tuesday at the World Economic Forum in Davos. “No one is a winner in a trade war. ”
In fact, Ross’s comments seemed directly aimed at China when he said: “It’s one thing to talk about free trade. We would like to have our trading partners also practice free trade. ”
Related: U. S. businesses in China aren’t buying Xi’s free trade stance
Ross, who made a fortune as a turnaround artist that resurrected dying manufacturing businesses, said the U. S. should provide access to its vast market to “nations who agree to play by our standards of fair trade. ”
But countries that don’t “play by the rules” should “get punished — and severely,” he said.
Trump has suggested tariffs as one way to retaliate and Ross seems to support that option. He said tariffs “play a role both as a negotiating tool and, if necessary, to punish offenders who don’t play by the rules. ”
But Ross didn’t give a full-throated endorsement of Trump’s threat of a 35% tariff on auto makers and other companies that move jobs abroad.
Asked if he’d oppose a 35% tariff, Ross said, “It’s a complicated issue whether you should have one flat tariff on everything or whether it should be more tailored. ”
Many have warned that Trump tariffs risk a trade war. That’s what happened during the Great Depression after the U. S. raised tariffs on thousands of goods with the Smoot-Hawley Act.

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