SEVERE WX : Fire Weather Watch View Alerts

Wilbur Ross: We'll do tariffs 'without blowing up the world'

Commerce Secretary Wilbur Ross wants Americans to know they'll be just fine if President Trump imposes sweeping tarif...

Posted: Mar 7, 2018 6:51 AM
Updated: Mar 7, 2018 6:51 AM

Commerce Secretary Wilbur Ross wants Americans to know they'll be just fine if President Trump imposes sweeping tariffs on US allies.

Ross said the Trump administration has a lot of problems to solve with trade, such as a trade deal with Canada and Mexico, or China selling too much steel around the world.

"We're going to get them solved without blowing up the world," Ross told CNBC Wednesday morning.

Ross' comments come as Trump plans to impose a 25% tariff on steel and a 10% tariff on aluminum. But it's still unclear which countries will be subject to the tariff.

Ross also spoke the day after Trump's top economic adviser, Gary Cohn, announced he would resign. Cohn was deeply opposed to the tariffs, and Wall Street believed he was a moderating voice on the White House's economic policy team. Global markets went into the red Wednesday on news of Cohn's resignation. A trade war has been investors' simmering fear since Trump took office.

Related: Trump's NAFTA negotiator: 'Time is running very short'

Ross said Wednesday that Trump will take a "surgical approach," on the tariffs but moments later said only Canada and Mexico could possibly be exempt from the tariffs.

The Trump administration has said the exemptions would be contingent on Mexico and Canada agreeing to US terms on NAFTA, the three-nation trade pact that all three sides have been renegotiating since August. Trump is explicitly using the threat of tariffs as a negotiating tactic.

"We are trying to do a surgical approach," Ross said. "If we can work something out with Canada and Mexico, they will be exempted. It's not inconceivable that others could be exempted on a similar basis."

Canada, Mexico and the European Union have all said they will respond to US tariffs in one form or another. After seven months, the NAFTA talks have not borne progress on the most divisive issue, auto manufacturing. Most trade experts say a final agreement won't be reached until 2019, long after Trump's tariffs would be imposed.

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 324543

Reported Deaths: 7051
CountyConfirmedDeaths
Los Angeles1335493809
Riverside24765537
Orange24715423
San Diego19371422
San Bernardino19043306
Fresno828288
Imperial7827135
Alameda7731148
Kern650297
Santa Clara6298166
San Joaquin627968
Tulare5678152
Sacramento548983
Stanislaus473251
Contra Costa466190
San Francisco452250
Ventura424653
San Mateo3949112
Santa Barbara393131
Marin343430
Kings291839
Monterey268218
Solano207528
Merced188412
Sonoma170316
Placer107711
San Luis Obispo9054
Madera8938
Yolo88428
Santa Cruz5693
Napa4774
Sutter3884
San Benito3622
Butte3384
Lassen3370
El Dorado3070
Shasta1956
Yuba1923
Humboldt1654
Glenn1640
Nevada1631
Colusa1130
Mendocino1130
Lake1081
Tehama1071
Tuolumne730
Calaveras670
Del Norte600
Mono511
Siskiyou410
Amador400
Inyo351
Mariposa311
Plumas170
Alpine20
Trinity20
Sierra10
Unassigned00
Chico
Clear
72° wxIcon
Hi: 99° Lo: 65°
Feels Like: 72°
Oroville
Clear
78° wxIcon
Hi: 99° Lo: 65°
Feels Like: 79°
Paradise
Clear
72° wxIcon
Hi: 92° Lo: 67°
Feels Like: 72°
Chester
Clear
55° wxIcon
Hi: 84° Lo: 55°
Feels Like: 55°
Red Bluff
Clear
72° wxIcon
Hi: 102° Lo: 67°
Feels Like: 72°
Willows
Clear
72° wxIcon
Hi: 103° Lo: 60°
Feels Like: 72°
A seasonably hot beginning to the workweek for northern California, and hotter weather is in the short term forecast, with very little relief in the long term.
KHSL Severe
KHSL Radar
KHSL Temperatures

Community Events