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Wilbur Ross on Free Trade

 

 


Criticized multinational trade deals: there is no free lunch

During an interview on CNBC on November 30, 2016, Ross criticized multinational trade deals. He said, "The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second you get picked apart. And you go with the third one. You get picked apart again. What has to be put into perspective, we are the big market. We are the world's biggest importer. We need to treat the other countries as good suppliers. Not as determining the whole show."

In August 2016, Ross criticized U.S. trade policies, a cornerstone of Trump's candidacy. He said, "Free trade is like free lunch, there is no free lunch. Somebody wins and somebody loses and unfortunately we've been losing with these stupid agreements that we've made."

Source: Ballotpedia.org: 2017 Trump transition confirmation hearings , Feb 3, 2017

Vocal critic of recent trade deals

Mnuchin will determine trade policy alongside Wilbur Ross, Trump's nominee for commerce secretary. Ross, a billionaire investor in bankrupt firms, is a vocal critic of recent trade deals. At the commerce department, he will oversee trade enforcement, such as the imposition of tariffs. At the Treasury, Mnuchin will have such responsibilities as declaring China a currency manipulator.
Source: The Economist newsmagazine coverage of 2016 Trump transition , Dec 3, 2016

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Page last updated: Jan 21, 2019