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Wilbur Ross on Free Trade
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Supports USMCA trade agreement to replace NAFTA
The USMCA is a new trade pact among the United States, Mexico and Canada, intended as a stronger and modernized replacement for the North American Free Trade Agreement (NAFTA).
Secretary of Commerce Wilbur Ross: "This deal clearly vindicates @realDonaldTrump's trade policy. It is fundamental reform. Rest in peace #NAFTA."
Source: White House press release "USMCA" in Trump Cabinet statement
, Oct 2, 2018
Auto imports are threatening U.S. auto industry
The national security probe under Section 232 of the Trade Expansion Act of 1962 would investigate whether vehicle and parts imports were threatening the industry's health and ability to research and develop new, advanced technologies, the
Commerce Department said. "There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry," Commerce Secretary Wilbur Ross said in a statement, promising a "thorough, fair and transparent investigation."
Source: Reuters, "Auto import probe," on 2018 Trump Cabinet
, May 23, 2018
Criticized multinational trade deals: there is no free lunch
During an interview on CNBC on November 30, 2016, Ross criticized multinational trade deals. He said, "The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second you get picked apart.
And you go with the third one. You get picked apart again. What has to be put into perspective, we are the big market. We are the world's biggest importer. We need to treat the other countries as good suppliers.
Not as determining the whole show."In August 2016, Ross criticized U.S. trade policies, a cornerstone of Trump's candidacy. He said, "Free trade is like free lunch, there is no free lunch.
Somebody wins and somebody loses and unfortunately we've been losing with these stupid agreements that we've made."
Source: Ballotpedia.org: 2017 Trump transition confirmation hearings
, Feb 3, 2017
Vocal critic of recent trade deals
Mnuchin will determine trade policy alongside Wilbur Ross, Trump's nominee for commerce secretary. Ross, a billionaire investor in bankrupt firms, is a vocal critic of recent trade deals.
At the commerce department, he will oversee trade enforcement, such as the imposition of tariffs. At the Treasury, Mnuchin will have such responsibilities as declaring China a currency manipulator.
Source: The Economist newsmagazine coverage of 2016 Trump transition
, Dec 3, 2016
Page last updated: Jan 21, 2020