UPDATE 1-Ross says U.S. must create 'more painful' environment in trade -CNBC [Reuters]
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Source: Reuters
Ross says U.S. must create 'more painful' environment in trade: CNBC | Reuters Reuters Staff 3 Min Read WASHINGTON (Reuters) - Commerce Secretary Wilbur Ross said on Thursday the United States needs to make it harder for its trading partners to have high trade barriers in order to achieve President Donald Trump’s ultimate goal of lower barriers and a level playing field. “What we have to do is create an environment where it’s more painful for these parties that have these huge trade barriers, both tariff and non-tariff, got to make it more painful for them to keep those barriers than to get rid of them,” he told CNBC. “In the particular case of China, it’s compounded by their disrespect of intellectual property, the forced technology transfers, the cybersecurity breaches.” Trump this week expanded the amount of Chinese imports possibly facing new duties. He threatened on Monday to hit $200 billion of Chinese imports with 10 percent tariffs if Beijing retaliated against his previous ta
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