Commerce Secretary Wilbur Ross said Tuesday the import tariffs placed on countries like China are helping the United States secure better trade deals.
Ross spoke with CNBC at the Saudi-U.S. CEO forum in New York City.
"I think what the market is starting to get used to is we are not suicidal. This is not some mission to blow up the world," Ross said.
"We're an administration that believes in objectives. We never would have gotten where we are now without tariffs."
The Trump administration placed tariffs on steel, aluminum, washing machines, and other products in an attempt to even the global playing field when it comes to trade. Over the weekend, it was reported that the White House exempted South Korea from the steel tariffs, imposing an import quota instead.
"It was a very quick deal with a very tough trading partner," Ross said of the South Korea agreement. "I think, frankly, while the market has rallied, it does not give enough credit for what this represents and for what it might portend."
China countered the White House's tariffs last week by placing tariffs on many U.S.-made goods, but the nation has since signaled that it is willing to soften its stance.
Some have said President Donald Trump is trying to start a trade war by instituting tariffs, but others claim he's simply using them as a negotiating tool.
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