Commerce Secretary Wilbur Ross said it’s nonsense to think President Donald Trump’s policies will land the United States in a trade war.
“We are in a trade war. We have been for decades,” he told CNBC early Friday.
“The only difference is that our troops are finally coming to the rampart,” he said.
“We didn’t end up with a trade deficit accidentally. We ended up with a trade deficit because of the way we negotiated treaties. And because of the determination of other countries who don’t agree with the academics, who are desperately trying to have the trade surplus with us,” he said.
“The fact is that our trade deficit overall is about $500 billion a year. And quite miraculously, that also equals the net trade surplus of the rest of the world. It’s not inherent in free trade that one country has to absorb all the net exports of