US Commerce Secretary Wilbur Ross says the pain of a trade war with China is like early days on a diet, he told the US Chamber of Commerce at a Washington meeting
US Commerce Secretary Wilbur Ross says the pain of a trade war with China is like early days on a diet, he told the US Chamber of Commerce at a Washington meeting. 'It's no fun in the beginning, maybe a little bit painful, but at the end of the day you're kind of happy with the end result,' said Mr Ross, according to Bloomberg.
He said it makes more sense to take an 'aggressive stance' with China when the US economy is doing well, citing an unemployment rate that's hovering around its lowest level since 2000.
'That's the right environment within which to do it, because there's more ability for the economy to absorb whatever short-term problems may come,' he said.
Chinese Foreign Minister Wang Yi said Beijing would be willing to reopen trade negotiations with the US if the Trump administration takes a less combative approach.
Almost two months have passed since China and the US last held official talks, though both sides have continued to hint at restarting negotiations. While the two nations seemed close to a deal in May, the collapse of discussions left Chinese officials embarrassed.
