Wilbur Ross Says Trump Is ‘Deadly Serious’ About Using Tariffs
(Bloomberg) -- Former US Commerce Secretary Wilbur Ross said President Donald Trump is “deadly serious” about using tariffs throughout his second term to squeeze concessions from allies, but doesn’t think he’ll ultimately take a blanket approach.
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Ross, speaking by phone from his home in Florida, said Trump will use tariffs to boost domestic manufacturers and accomplish other objectives, including bending other nations to his will. While Trump has recently riled investors with threats of blanket tariffs on all imported goods, Ross said Trump is most likely to use targeted duties.
“He’s deadly serious, and I think to the degree that he doesn’t get what he wants in concessions from the other countries, I have no doubt he will go ahead,” Ross said. “He talked about blanket tariffs in the last administration as well, but he never really did them.”
Ross said he didn’t know for sure whether Trump would use blanket tariffs this time, but it’s “pretty clear” he’ll impose tariffs on certain countries and individual product lines.
Trump said Monday he wanted to enact across-the-board tariffs, the latest signal that he’s preparing widespread levies to reshape US supply chains. During his last administration, Trump used a number of different trade laws to build barriers against imports of products like steel and aluminum as well as imports from specific countries like China.
Ross isn’t part of the new administration, but he said he has spoken with the president’s Commerce secretary nominee, Howard Lutnick. Ross said he recommended Lutnick beef up the staff of the Bureau of Industry and Security as the group administers export controls that the administration will likely use more this term.
The Commerce Department and the US Trade Representative’s office should clarify their responsibilities, since both agencies will be busy managing Trump’s trade plans for the next four years, Ross said.
“Whenever you have divided potential responsibility, you have a potential for conflict and bickering between the two, so clarifying the reporting line minimizes any chance of that happening,” Ross said.
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