Tags: China | wilbur ross | tariffs | trade

Wilbur Ross: US-China Trade Deal Won't Be Finalized at G-20

By    |   Tuesday, 11 June 2019 09:01 AM

The United States and China will eventually negotiate a trade deal, but it won't be finalized at the upcoming G-20 summit, Commerce Secretary Wilbur Ross said Tuesday.

"Eventually, this will end in negotiation," Ross told CNBC's "Squawk Box." "Even shooting wars end in negotiations."

Meanwhile, he said, President Donald Trump is "exactly right" with his assessment on China, as the United States will either collect "more and more tariffs on more and more products" or an arrangement will be reached to deal with the current situation and "more importantly" issues such as intellectual property rights and forced technology transfers.

Ross, though, warned that extensive trade deals are not made at summits like the G-20 and that any talks between Trump and China's President Xi Jinping would lay the groundwork for an agreement, rather than the two men reaching a pact at the event itself.

Meanwhile, Ross urged investors to use caution while the talks are continuing.

"When we were having this with Mexico, people were getting hysterical," said Ross. "Now we have a resolution that appears likely to help solve the border crisis, and also did not involve big tariffs."

Former Defense Secretary Ash Carter, a guest host on the morning show, commented that the United States has been at a nonstop war for some time, but Ross said he doesn't anticipate there will be a constant trade war, as there are several trade agreements on the table, including the USMCA deal with Mexico and Canada.

"Look at the results," he said. "Don't get too obsessed with the in-between details. Those are just a road stop along the highway to success."

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
The United States and China will eventually negotiate a trade deal, but it won't be finalized at the upcoming G-20 summit, Commerce Secretary Wilbur Ross said Tuesday.
wilbur ross, tariffs, trade
271
2019-01-11
Tuesday, 11 June 2019 09:01 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved