U.S. Commerce Secretary Wilbur Ross Reacts To China's New Tariffs | CNBC

[@davidbarnesstuff53]

If we want balanced trade, we have to have balanced wages with Chinese workers. Ready for that?

[@pete_lind]

That is what T-Rump said in Davos this year and every republican for sure are ready for that when they blindly support T-Rump no matter what . China is also targeting areas that voted T-Rump with these tariff , so when T-Rump and Wilbur Ross is playing tic-tac-toe China is playing 3D chess .

[@L110508]

And balance the hard-working effort too.

[@agaperion]

Quite a spectacular non sequitur you've got there. Perhaps there's a more subtle way to broadcast to the interwebs that you don't know wtf you're talking about. Flat Earth theory, perhaps?

[@davidbarnesstuff53]

J.S.A. Libertus I stated my claim. Try and state yours.

[@davidbarnesstuff53]

The average factory worker in Chine makes about $9000 per year (about double from 2013). An American factory worker makes from $19,000 to $47,000 per year depending on location. You can't balance trade with these numbers. If our wages go down, we can't buy as much and production suffers. If China's wages go up to our levels, then Chinese people would increase demand and prices globally would go up and we would have to pay more. This has already happened on a comparatively small scale in the demand for raw materials in construction and manufacturing that China's economy is now demanding.

[@Ken49169]

*Many Indian troll army pretending to be American cheering this trade war LOL*

[@amitdeshpande9605]

do you mean russian trolls?

[@NONENONENONE123]

Amit Deshpande Indian trolls.

[@ilikemitchhedberg]

Lern to engrish, china troll!

[@mm-wn8vm]

Russian trolls what? The Russians and Chinese are allies who share a common enemy.

[@stevejurgens9836]

Long live President Trump! Wilbur Ross is a very intelligent man.

[@1846-n8w]

Is easy and you can also be US President. If there is any problem, just accuse/blame China.

[@sombrnegr1397]

ROFL, another HOLLOW post with NO EVIDENCE, no Substance: no FACTS or logic. ...FACT: google.com/search?q=50+cent+Army But you get your "50 cents" from Chinese govt Propaganda Ministry. You brainwashed robot-people are hilarious.

[@phuckewe178]

Just watched a VICE video on HBO a few days ago on how China is taking over Africa. They're building all over the continent, laying infrustructure and mining the precious metals out of their lands. What were you saying about China again? Africa is a very large continent and won't be a third world continent forever.

[@francoislan1975]

Komitsu Adaptation

[@kinngrimm]

Remember how Ross said nothing would happen at all? This doesn't look like nothing at all as a reaction and while i saw that coming, there are other countries who will follow this example. Doesn't matter how Ross or IQ45 downplay it then. The left expected reactions, the right was in denial. Just go into your youtube history and check the comments. That said, yes countries formost from NATO are closing rank behind the USA, not because IQ45 gathered much love around the world, but out of a sense of stability and formost out of loyalty for the USA. That loyalty is a currently used up regularly by IQ45 and depending how he interacts with allies in the future, they may not follow anymore without being asked ... something you could use ambassadors for, you know those vacant jobs ^^. When it comes to amazon, i would expect them to go to court with a defamation claim .

[@markplain2555]

HUH?? Tariffs lead to loss of jobs and increase in prices. It's that simple.

[@helpAmerica1]

Yep that is correct

[@soupsipmason-oh599]

Steel and aluminum are basic of the industry

[@khatishital1670]

U.S cannot make its economy by tariff. Simply U.S wants its product to be sold in the world. But its product are to expensive to consumer of developing and even for developes country. So simple logic is that first it has to put its own house in order. China should not backdown instead fight to the end for the sake of consumer of developing contry i.e rest of world other than few rich countries.

[@MrTagahuron]

khati shital you don't get it. We start by reducing our taxes, eliminating regulations. That way we are more competitive.

[@L98fiero]

And giving $1.5T to the people that need it least leaving nothing for 90% of Americans and soon, because of the deficits he is creating, social services will be cut _and_ the taxes benefits will be taken away.

[@jameeboss8503]

No one wants China products its terrible and dangerous especially food

[@helpAmerica1]

BS devalue your dollar by 30% then talk

[@helpAmerica1]

Well then stop buying it.. Loving China's stuff is how you made a mess out of yourselves Let me know when you find an American TV or underwear.

[@sheleviy]

Funny how 80 years old Ross is the most coherent :)

[@thatisabsolutelykooooge2211]

And none of these idiots ever understood it. None.

[@rabbitbobo4131]

I just got a question, do they understand the IP law? Intellectual property are a state granted right.. meaning they are law made for the country you are specifically registered, and then you are protected from that idea.. did they register in China? you are asking China up hold US law? am i getting this all wrong? as long as they don't use the product or sell the product on the soil they are register then basically they have broken no law. I remember India and mexico also fought a IP on the case of medicine in regards to pharmaceutical IP the ruling is that the IP are limited to the country it is registered and up hold.. that is why there a lot of Mexican and India online pharmacy. I must beimagining this.. US are basically breaking international law by causing this at the first place.. "IF" China take up US IP law, the US would also have to take up China law.. are you guys ready for that? China will have have ruling power in the US over IP as you share values.. you guys have no idea the impact that will have.

[@wei270]

not many people knows that.

[@Danielzsy]

As an native Chinese, I would prefer to have negative GDP growth and have no salary, I still support fight trade with the United States! We Chinese people will definitely not like the Japanese, facing the threaten from the United States, choose to sign the "Plaza Agreement". China can defeat Americans on the Korean battlefield and the Vietnam battlefield in the years when there was no weapons and food, and today it can also defeat the United States. If need to donate money, I will not hesitate to. We never never never afraid you America！

[@beezusHrist]

Vincent shut up traitor.

[@artamerican]

Octavius Chan Then why you love American pop culture ?

[@L110508]

Now it's the same guy who last time forced Nippon to sign Plaza Accord, is in charge : Robert Lightizer. After Nippon signed that agreement, until today the country is still struggling.

[@andy101903]

Chinese culture communicator林鲲 I am from Taiwan and Taiwan is also hit by US in this stupid trade war. Soon the world will realize we shouldn't trust US , especially this Trump Administration. How ironical, Taiwan and Mainland have the same enemy now. 對岸的朋友，支持你們，面對美國長年的惡霸總該有人挺身而出了。

[@billking7509]

@KC T What a loser.

[@greatblueshark1]

Ross makes sense and it’s time to level out the export and import for America to benefit the interest for the people. The reporter desperately wants to call it War! The reporter seems to want to instigate conflict. And that is the media misleading to the viewers

[@junwu3373]

Why us media or commerce secretary didn’t mention us has 4 millions favorable balance from service industry?

[@moonresidentno.921]

How do they steal your secrets? I am really confused. Ideas are not property but technologies are. Are they stealing your technologies or ideas ? someone can explain?

[@loktom4068]

Unions in the US puts lots of markup in the industrial products. That's extremely uncompetitive.

[@leeroygouldbourne7065]

fifty years ago a professor in economics 101 told me " you can get away with any thing if you don't make your self a hog on it"does this thinking still apply ?

[@TCGPH]

Not in Trade War? What do you Call that "Trading Exercises"(Military Exercises)?

[@helpAmerica1]

If we want a balance in trade, don't we just need to sell more stuff?

This guy always looks constipated.

[@Marchand848]

Isn't this the guy who falls asleep in meetings?

[@TPerm-hj4sf]

Where is that can of soup?

[@jackblack5962]

Left anti pc he ate it, why waste

[@RBBBBBBBBB533]

I was expecting a can of Campbell's Soup.

[@accountable3653]

No Campbell soup? A perfect custom for Halloween will's face..

[@jasperzhang8448]

Red China is not the powerful nation seeking to dominate the world. Frankly, in the opinion of the Joint Chiefs of Staff, this strategy would involve us in the wrong war, at the wrong place, at the wrong time, and with the wrong enemy.

[@stevengoo1076]

This is not a surprise. There is no surprise. Why is Wall Street surprised and reacting this way ?

[@hl3369]

Holy molly this dude is the perfect poster boy for funeral homes.

[@joeburns88]

Actually no trade between China and US is the best answer. That would be like a balance of trade => 0 in and 0 out = no trade imbalance. This really is the only solution because Chinese don't negotiate...they "demand".

[@sstchan924]

US corporations try their best to out-source manufacturing causing job loss for the manufacture workers now the imposition of tariff further causes the more successful farming sectors to lose more jobs for farmers and farming related jobs Note:These jobs are safe from outsourcing. A good businessman is supposed to maximize gain and minimize loss. This is just the opposite.

[@davidbarnesstuff53]

The average factory worker in Chine makes about $9000 per year (about double from 2013). An American factory worker makes from $19,000 to $47,000 per year depending on location. You can't balance trade with these numbers. If our wages go down, we can't buy as much and production suffers. If China's wages go up to our levels, then Chinese people would increase demand and prices globally would go up and we would have to pay more. This has already happened on a comparatively small scale in the demand for raw materials in construction and manufacturing that China's economy is now demanding.

[@louiskatsougrakis2532]

You people are stupid.

[@allenyoo9212]

A great & well addressed interview despite terrible & unfortunately biased questions.

[@alfredjohnson3642]

highschool dropout found, learn econ

[@minmaungmaung8129]

Mr. Ross wanted the Chinese to officially confess about stealing US technology. Then how about America to also officially confess to the Iraqi government the Sadam at that time of US invasion had no WMD? Mr. Hypocrite?

[@allenyoo9212]

Min Maung Maung www.zerohedge.com/news/2018-04-08/forget-trade-war-china-has-even-bigger-problems-domestically

[@sombrnegr1397]

FACT: Democrat median IQ is LOWER than that of Repubs. SOURCE: Oxford U., Noah Carl, 2014.

[@iFreeThink]

Easy. "You didn't tell me about healthcare killing everyone."

[@mmagearworks]

If it is a “a fraction of 1%” why do it? Why fight for that little?

[@wei270]

because if you show that you are not willing to fight for even little other will take advantage of you little by little, just human nature

[@JAMESRS58]

In 2002, George W. Bush imposed tariffs - which are essentially a tax imposed on imported items - on steel in an attempt to revive the industry in the United States. “This relief will help steelworkers, communities that depend on steel, and the steel industry adjust without harming our economy,” Bush said in a statement at the time. The opposite largely occurred as a result: job losses, material shortages, production delays and increased costs. The net result was 200,000 jobs lost.

[@saint6563]

"No one", cept Rump, thought the Chinese wouldn't retaliate! #Delusional

[@HondaMechanic1]

LOL.. Everyone knows that example: and electric motor built in USA is WAY better than same motor built in China BUT that motor from USA would cost $200 - 300 dollars and from China would cost $50 - 75 dollars ..

[@udonewsreport]

A tariff is a tool until it becomes a weapon; must be a slow news cycle given the ridiculous questions at the end.

[@tupsum]

Also it isn't the first bankruptcy he has declared

[@Moonrise361]

The interview goes on and at some point the hosts don't know what to ask anymore, they start asking stuff unrelated to the Secretary department. Lame. Also, they are most unprofessional (to say the least .. ) in addressing the Secretary by his first name instead of by Mr. Secretary, as is usually done in all formal interviews. No class. The Secretary was excellent in his answers, very on point.

[@bobleroy1924]

At this no one will be able to afford Christmas gifts

[@kevinrobinson6601]

set the speed to 1.5x and it's much easier to watch

[@jz4906]

你不想要petroyuan啊？悟空，你要是不想要的话你就说话嘛，你不说我怎么知道你不想要呢，虽然你很有诚意地看着我，可是你还是要跟我说你不想要的。你真的不想要吗？你不是真的不想要吧？难道你真的不想要吗？

[@MrTagahuron]

China Censored sum ting wong!

[@blahblah2035]

o o o only uuuu

[@AliHussain-fz7pd]

I'm not exactly the biggest fan of Trump but you have to be fair. Wilbur Ross is a top-tier Commerce Secretary, highly accomplished and I don't necessarily have the same inclination toward protectionism but with this guy at the helm, you've got to give him the benefit of the doubt. What he said made sense and China have been playing the ballsy game for too long.

[@thomastang9786]

Ali Hussain, so you are willing to open you country up for 40 years of environmental pollution by importing other country's junk. At the same time, you are willing to work long hours for less pay, right?

[@AliHussain-fz7pd]

@Thomas Tang - no it's not a case of me being unable to concede that China has made sacrifices for it's intrinsic comparative advantages. But there are a series of practises and policies that put them at an advantage that cannot continue indefinitely. From the legal complications of taking a company to court for ip infringement, to currency manipulation, to counterfeit practises, to the One China Policy, its the sort of posturing, and unchecked brinkmanship that has left too much on the table for China. It needed to be addressed.

[@skinnyapacheoutdoors7987]

he just blew you guys away

[@mijnendonckx]

so what do whe call you in the next year the ussa

[@RONMAYS71]

I am behind Wilbur Ross , he is correct and insightful

[@iali00]

I didn’t vote for Trump and really had no respect for him but on trade and NATO, I’m 100% behind him.

[@rogerdat45]

iali00 you might want to vote for him in 2020 unless you want some lightweight in the WH again.

[@meleket]

Did he said, "Trump is a strong leader?" How on earth?

[@williamtseng1230]

Problem is that Chinese people save, while the Americans spend; problem is that the US government is running a huge deficit and needs the Chinese government to finance her; problem is the low cost products from China keep the US inflation low, so that the US interest rate is kept also artificially low, and the US government is not eaten alive by the extra interest the government needs to pay by cutting corporate tax hence more government deficit. So, the problem really is not trade or trade deficit.

[@RyanFagan_RealEstate]

Most wars start with skirmishes...

[@ThinhTran-mw9es]

Wilbur Ross you're the best 👍 sir.

[@toosmall4674]

If US want to balance the trade...Why band hwawei getting into US..

[@ernstgross5852]

what happened with his paradise firms?

[@vanwong6768]

There is no such thing as a balanced trade - sounds more and more like communist philosophy to me. Every country has its own competitive advantage - for example, Saudi Arabia has a competitive advantage in oil - they got plenty of them and they can produce them at a lower cost than most countries. So as a result, they have a trade surplus every year since oil was discovered on their soil. And America has a competitive advantage in IT, Boeing airplanes, University education and Hollywood movies, where America enjoys a Huge Trade surplus. Now, if countries around the world was to follow Wilbur Ross's logic, then every country will impose tariffs against countries where they have a trade deficit and the world would end up with a Huge Depression.

[@michaelz5497]

I dozed off somehow

[@hetabattousai]

Just simple question. Why EU, SK, Japan...etc all oppose this trade war post by Trump?

[@morganamarvel7075]

US has the 💰. Country of consumers. So others will sell to it, therefore. Makes sense.

[@XIVDALAILAMA]

Geez, the Chinese stole hamburger making technology from McDonalds?

[@cklam5520]

Trump is "wag the dog"!

[@2Cannonball]

The Europeans should proactively join the fray and tax soybeans and the like a 25% tariff too.

[@dannmarceau]

"Willlllllbbbbbuuuurrrrr".

[@jsmcguireIII]

Wilbur is a Russian investor

[@rogerdat45]

timber_beast lol what?

[@RedroomStudios]

Wilbur Ross seems as if he is annoyed to be alive. never saw someone with such low energy.

[@rogerdat45]

RedroomStudios hes like 80 you asswipe

[@DRIrM-wg7to]

This will have two effects: 1. For USA who cannot export their products to China then this will create a Supply Surplus condition (in USA) thus the prices will come tumbling down....benefit the citizens. Yes farmers might go bankrupt but Trump and Kushner can bail them out. 2. For those countries eg Australia producing same product eg soya since there is a Demand Surplus in China they will be paid more. So they will be happy... This way Trump achieve two birds with one strike: Prices in US goes down and people in Australia our allies very happy.... Brilliant move ... Brilliant Well Done. That is an excellent move. more... more... more....

[@mark.k7206]

Trade wars are so so easy to win. Well let's see how many u.s workers lose a job as a result of this fantastic win

[@iFreeThink]

They are the best behaved in school.

[@keatheven4341]

we the people got screwed again wtf

[@jonnyboy950]

Is this guy awake?

[@Moonrise361]

He is very awake. He is a genius. Lots of his energy is directed to his head where his brain works overtime in knowledge and insight.

[@jonnyboy950]

Moonrise361 Sure thing buddy!

[@Christopher-zi8rq]

Why. why, why!!!!!...are we asking this fossil. The old ways of capitalism are dead.

[@Alcagaur1]

What is Nosferatu Ross doing out of his crypt in daylight?

[@mijnendonckx]

this guy is like 10 million years old lol

[@yancycddfdf]

I don't why these old guys control the most powerful country.... in East Asia, the only job for these guys over 70 is taking care of their grandchildren. Old guys should retire from jobs.

[@maxinpains6937]

Reguler Joes get hit hard coz of this ...ESPECIALLY POORS .

[@hipking23]

This guy needs to go to sleep

[@dagelichb]

talking about the goal, no matter what's it's about, does Trump really think he can achieve that by a trade war?

[@haotianqi5872]

战 奉陪到底 谈 大门敞开

[@laurelk6009]

土共有点想打一阵子的味道...很难得的天时地利人和, 打痛了美帝就有五十年的太平.

[@fanzhanhui7864]

Haotian Qi 你是外交部发言人吗

[@EMERTHERofficial]

美国正在下沉。他们的总统是个傻瓜。 Hope this is written correctly; just begun to learn Chinese. :)

[@kevinwang6852]

@@EMERTHERofficial correct way is 美国在走下坡路

[@JoeFirst1]

This is the guy leading Trump to the ditch. 😆

[@sabin97]

this is awesome. usa keeps isolating itself.

[@daniellao2376]

A load of hogwash

[@phipham7854]

Go Mr president Trump you make me feel proud

[@phoebstunes]

How come CNBC sounds more like Chinese owned television than a US based independent media?

[@y-3084]

phoebstunes A view that is different from your stereotype is not necessarily wrong, on behalf of Chinese in this case. Political right is not everything.

[@haff9227]

Because sadly the US media hates America and Trump. They want China to be great

[@samsonpoon5268]

你知道这5千亿里面真正有多少是中国本土工厂卖的么？外资工厂（包括美资、韩国、日本、台湾）的占75%以上，你们在美国买的那些日用品都是些劳动密集型小工厂（占交易额很少部分，当然也不在制裁范围内）所以中共根本就不怕打贸易战，和美国终止贸易都行。我是做外贸的，你们就知道瞎BB。从2015年开始后和美国市场做贸易的就很难赚钱了。很多工厂要不就搬到东南亚去或者转到内地去，投资规模都少了很多。一个民主的总统会在乎选民，专制的中共没有这个问题，况且现在中共提倡产业升级都很久了。作为一个国内老百姓没你们这些外国佬趾笑没人权没自由没民主，但这次事件可是美国佬开始有意的，开始打朝鲜牌、南海和台湾牌，打压中共的中国制造2025（你们的贸易代表直接说了啊），尤其这台湾牌是中共和老百姓共同的底线。说道知识产权的问题，中共确实没有做好，毕竟市场太大，相关利益会伤到些小企业生计的问题，发展中国家都会有这种问题。如果从WTO2001年开始市场按照发达国家那样全部开放的话，有99%的大型国企会破产，1亿多人失业，WTO有条文说明了发展中国家可以保护国有基础企业。这么多年来老百姓辛苦和勤劳打工，国企有国家扶持政策挣点钱不容易。你们的伟大总统都急说了WTO规则对你们不利，要知道WTO也是当年西方国家订的。回到贸易战来，你们知道现在的国内市场很多中小企业很难做么，除了国有企业以外的其它市场几乎给外资占领了，要做大做强几乎不可能。中共是很坏，这两年政府政策还是蛮得人心的，至少放宽了民间资本融资。所以这次来的贸易战中共自己是有自己的想法的。打了后会激发国内资本活力，产业升级也相对提上日程。别说输赢，输了也认了继续努力加油。你们以为14亿老百姓都很傻，老百姓就是要贴着中共才有点点盼头。以为打跨了中共老百姓民主了底层老百姓就什么都有了那是傻子。你们美国搞那么多假新闻出来一时说中共输了美国赢了，都是瞎J8乱叫。中共手上武器很多，都放风了任何选项都可以，包括国债或者美国原油。打到最后中共和老百姓火了，直接来个名族主义把苹果，ibm,宝洁，微软，福特，通用还有电影全部赶走，再操纵下汇率你们的华尔街估计最先倒下崩。澳门的MYNN永利赌场的老板和trump是两哥们第一个被踢出大陆市场，这可是全世界最大的市场，有国内7成以上的中产阶级，中国人喜欢储蓄。美国不来，欧盟，俄罗斯和亚州其它国家肯定笑死了。你们伟大的川普说要重启制造业那个是笑话，现在全球分工和制造产业链都在亚洲，制造业自动化提前到来，要建立个产业链有那么容易？怎么也得8年10年。

[@avknj1964]

Just produced very good and cheaper than import them to China so in the whole world they want made in u s a ok

[@catherinephillips1896]

I STAND WITH MY PRESIDENT ON MAKEING AMERICA GREAT AGAIN👍👍👍👍👍

[@crisyorke1328]

This host has some forms of speech impediment or what?

[@schaefferjohn9512]

SMALL POTATOES FOR USA PEANUTS SO WHY YOU SPEAK ABOUT CHINA ,AUSTRALIA ARE THE TOP IRON ORE AND ALUMINIUM BAUXITE ORE USA DO NOT HAVE ENOUGH SO WHAT THE HIN INTERNATIONAL ARTIST GROUP GREETINGS

[@cuadradoperfecto]

Mr. Ross: Who is the mastermind of this plan?. Nobody would believe that it's Donald Trump's plan. Are you the author?

[@toolcomexcomercializadora6625]

See minute 17:51....so funny!!! Wilbur rose fart......

[@brendalynnellmurray3096]

Wilbur Ross need to give give up the ghost. He is took old Ross looks dementia.

[@TheJukeboxhero15]

GREAT TRUMP, OUR ECONOMY IS GREAT

[@jimwilson3554]

What a joker the interviewer is, stop stuttering and go for the jugular, anything Trump does the Chinese will do better.