Trade agreements historically have been very weak on enforcement, given the magnitude and the complexity of the changes we need, enforcement becomes an extremely critical component of any agreement that we make.

Wilbur Ross

Categorized in : Business

There's no reason for tariffs to increase the price of steel by far more than the percentage of the tariff, and yet that's what has been happening, that clearly is not a result of the tariff, that's clearly a result of antisocial behavior by participants in the industry.

Our meetings so far have been friendly and frank, and covered some useful topics about specific export items.

For example, Canada and Mexico also have the postponement until June 1. So depending on where we are on NAFTA on June 1, the president will decide whether or not to extend their situation, so it's unforecastable at the moment.

The big topics like that are still a work in progress. And those are very complex issues, particularly rules of origin, so eventually it will come down to every comma, every semicolon, everything before we can figure out if it's something that's workable.

The gap remains wide. by Wilbur Ross

The gap remains wide.

ZTE did do some inappropriate things ... the question is are there alternative remedies to the ones we had originally put forward and that's the area we will be exploring very, very promptly.

Our position has been that that's an enforcement action separate... by Wilbur Ross

Our position has been that that's an enforcement action separate from trade.

Who in the world is going to be too bothered by six tenths of a c... by Wilbur Ross

Who in the world is going to be too bothered by six tenths of a cent?

The thing was, it didn't cost the President anything to have that... by Wilbur Ross

The thing was, it didn't cost the President anything to have that entertainment.

We're groping here to see whether the facts warrant a more comprehensive solution that would deal with a very wide range of steel products and a very wide range of countries.

One of the factors relating to national security would be if you needed a very rapid buildup, are the skill sets there, particularly are the skill sets there for the very complex alloys that are needed for armor plate and things of that sort.

It will demonstrate the administration's intention not to hip shoot, not to do anything casual, not to do anything abruptly, but to take a very measured and analytical approach.

These actions are designed to let the world know that this is another step in the president fulfilling his campaign promise to (tackle trade abuses).

I … look forward to working especially closely with Steve Mnuchin to implement the economic programs, which we have developed jointly.

Our immediate concern is whether the AQR and the stress test are sensible and do not go overboard with negativity because of the recent tumult, as long as the treatment of the institutions is fair and not based on wild assumptions, then in principle many of us would be prepared to participate in a rights offering.

It's important to have a sound idea, but the really important thi... by Wilbur Ross

It's important to have a sound idea, but the really important thing is the implementation.

important-thing thing important sound

Everybody talks about tariffs as the first thing. Tariffs are the last thing. Tariffs are part of the negotiation. The real trick is going to be increase American exports. Get rid of some of the tariff and non-tariff barriers to American exports.

american some negotiation real

I think there's a big difference between the impact of trade agreements on corporate America and the impact on Mr. and Mrs. America. Corporate America has adjusted to them by investing lots of capital offshore... What we're doing is we're exporting jobs and importing products instead of exporting products and keeping jobs.

difference doing think america

The whole idea of a trade deal is to build a fence around participants inside and give them an advantage over the outside. So there's a conceptual flaw in that, one of many conceptual flaws in NAFTA.

inside build flaws trade

To me, the most terrifying form of warfare would be if there was some simultaneous cyber attack on our grid, on the banking system, and on our transportation system. That would be quite a devastating thing, and yet in theory, absent some real protective measures, that could happen.

me cyber transportation real