Commerce Secretary Wilbur Ross Discusses the Big Picture Trade Confrontation With Duplicitous Panda…

U.S. Commerce Secretary Wilbur Ross appears on CNBC earlier today to talk specifically about U.S-China trade resets, confrontation and negotiations.  Secretary Ross cuts right through the chaff and countermeasures and gets right to the primary issues.

When questioned about the myriad of downstream issues, Secretary Ross stays focused on the big picture.  GREAT INTERVIEW (there are multiple segments where it’s almost impossible not to laugh during Wilburine’s gnat-swatting):

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This entry was posted in Big Government, Big Stupid Government, China, Donald Trump, Economy, media bias, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

87 Responses to Commerce Secretary Wilbur Ross Discusses the Big Picture Trade Confrontation With Duplicitous Panda…

  1. sundance says:

    Liked by 43 people

    • DanO64 says:

      SD, brilliant quote. I ALMOST want to join twippster just so I follow The Last Refuge.

      Liked by 3 people

      • mrsqt says:

        Dan, save yourself the aggravation. I joined for that very reason and what a mistake. Little did I know how Twitter systematically silenced conservative voices. They actually target Trump supporters and delete their tweets! I knew something was up when I saw 90% of the tweets under President Trump were negative. And it’s not just happening to him. It’s happening to anyone who supports him and it’s infuriating to read the comments when they are ALL negative. Of course, sites (or whatever they’re called on twippster) like The Last Refuge, for the most part, are free from those type of attacks. Thankfully we can follow THIS blog so there is no need to join that anti-Trump-liberal-infested black hole known as Twitter. It’s just a shame that we can’t join Twitter to support our POTUS because we don’t have a voice there or seem to even exist to them. It’s like we are completely invisible…

        Liked by 3 people

    • A2 says:

      Sundance, apropos your comment, you may enjoy these observations from the former Mexican Ambassador to China 2007-2013, on the newly proposed tariffs announced by China.

      Jorge Guajardo
      @jorge_guajardo
      Follow
      That list of tariffs China just announced, it looks like the government taxing itself. Most Boeing planes are bought by government airlines. What it’ll do is create foreign leasing agencies to buy them and lease them.That list of tariffs China just announced, it looks like the government taxing itself. Most Boeing planes are bought by government airlines. What it’ll do is create foreign leasing agencies to buy them and lease them.

      Jorge Guajardo
      @jorge_guajardo
      4h
      Replying to @jorge_guajardo
      if you impose a tariff on a product that has a duopoly, you are making it a monopoly. Who loses with monopolies? Customers do. China shoots itself in the foot with these tariffs (I know this applies to all tariffs, but, at 1st sight, US targeted ones more easily substituted).

      Tim Culpan
      @tculpan
      3h
      Replying to @jorge_guajardo @niubi
      The HTS code China specifies, 8802.4010, is listed (by the Chinese) as being for aircraft between 15,000kg & 45,000kg, too small for a passenger aircraft. So maybe Boeing won’t be affected afterall.

      Liked by 4 people

      • A2 says:

        Forgot to add this little nugget #AvGeeks are reporting that there are many aerospace products on the tarrif list that the U.S has never been importing from China.

        Have a laugh.

        Liked by 1 person

  2. Everywhereguy says:

    If there *were* genuine total free trade, that would be great.

    Absent that, evenhanded mutual treatment is the most functional and fairest option…

    Liked by 7 people

  3. duchess01 says:

    Press is determined to get Secretary Ross to admit we are in a trade war – he says he thinks it is overblown – the world is beginning to recognize that China’s behavior is a bit out of control –

    They are just so scared of these tariffs – the reason for the US list is very simple – we did a survey on those products we are not dependent upon – the ease with which we can substitute is quite evident – however – intellectual property is our future – we must protect it –

    Our moves were based on facts – on bad behavior – our position – for Chinese it is a tit-for-tat –

    We have an objection to a violation of the rules – they have to stop stealing intellectual property –

    This President is intent on making it a level playing field – we are not looking for some big confession – what is essential is that they stop the behavior – they deny publicly that any of this exists – however – if they change their behavior – that is a good thing – (paraphrased)

    Liked by 20 people

    • Since China denies the bad behavior, they can stop doing it and save face. Love our Wilburine!

      Liked by 19 people

    • TheWanderingStar says:

      Joe really seemed nervous or unprepared for this interview today with Wilburine. Usually he is much more relaxed and articulate. Really kinda painful to watch him do the interview.

      Liked by 10 people

    • Joe K Lombard says:

      Would someone inform these jackasses that it’s Mr. Secretary, not Wilbur.

      Liked by 6 people

      • louche9 says:

        Not making excuses, and I agree that Secretary Ross should be referred to as such, but Joe Kernan has been interviewing Wilbur Ross on Squawk Box and other places for 30 years. They know one another well. It’s much more likely that referring to Sect. Ross as Wilbur was a “slip” to signal to others in Kernan’s realm how well he knows Sect. Ross then it was a sign of disrespect, but again, I agree Kernan shouldn’t be doing it.

        Liked by 1 person

    • PS says:

      Good point, saw an article this morning on China adding Soybeans to the (tit-for-tat) list of US goods that they are adding a tariff on… except there’s one problem….

      There isn’t enough world Soybean supply to make up for not consuming the USA’s share of production. In other words, there’s no alternative supply, and it can only harm China’s soybean demand (which is almost entirely pig farming, which becomes a basic food supply for their billion citizens). Their action will soon result in increase costs of food, which can only lead to civil instability.

      Now that I think of it, I doubt that the Chinese government will explain it that way to their people. It’s probably going to be used to instigate hatred for the USA among their population (look what the USA is doing to us, starving you!) which beats the drums of war.

      Liked by 6 people

      • Simply set U.S. EXPORT TARIFFS on soybeans to everyone.

        Credit non-Chinese countries back for internally-consumed soybeans IN RETURN for their agreement to eliminate barriers on their imports from the U.S.A.

        Announce that we decided to save China the expense of imposing the tariffs at their end.

        Use the funds to Build the Wall to protect against Chinese Nationals invading America amongst the Invaders from Mexico.

        Liked by 5 people

        • Publius2016 says:

          The price of soy beans in us is outrageous! Better to sell here at these prices but of course, multinationals exploit market share here so there is oversupply for independent farms while scarcity in the stores!

          Liked by 1 person

          • dayallaxeded says:

            Thanks for this info! More hard evidence to support SD’s analysis (using limes, iirc). Clearly, the same analysis fits for many commodities and products. We have been “led” by very stupid, gullible people for far too long. May God continue to guard and guide VSGPDJT and his Killas, like Excellent Scty. Wilburine!

            Like

          • piper567 says:

            Publius, remember sundance’s story of the lemons.
            You’re spot on.

            Like

      • duchess01 says:

        Oh, gosh, PS – I sure hope not – however, in some cases, they will cut their nose off to spite their face – after all – they do not see the consequences of their actions – duplicity dupes!

        Like

        • Steve Herman says:

          Maybe in PDJT’s negotiations w the norks, the US will sell beans to the norks who will export beans to China. Sounds rather familiar! Honestly, as stated by others, this will not mean China will buy fewer beans, China farmers (centralized Ag) will pay more for beans.

          Over time, i’m confident all the new tariffs by China will quietly be lowered and eliminated.

          Liked by 1 person

          • duchess01 says:

            Interesting, Steve – somewhat agree – but, China must save face – it must appear as if they are winning because there is no compromise for China – however, I think President Trump and Secretary Ross will win this standoff – and what we owe them will be greatly reduced by what they owe us!

            Like

            • Steve Herman says:

              Actually my first sentence “Maybe in PDJT’s negotiations w the norks, the US will sell beans to the norks who will export beans to China” was meant to be snarky towards China. Because China used NAFTA to backdoor their steel and Aluminum into the US.

              Agreed to encourage detente, China face saving is a necessary component.

              Like

      • USTerminator says:

        There are finite amount of soybean in the world. China needs a lot of them and US has a lot of them. If China don’t buy from the US then she needs to but elsewhere. Elsewhere does not not have enough soybean to sell to China so elsewhere just need to buy from the US to consume and elsewhere will sell her soybean to China for profit. Worse, China will pay more for the soybean thru tariff or middle man and US will get exactly the same money whether to sell to China or elsewhere. That is why China can not win the trade war. Trump knows it, China knows it, but only “smart money” people in WS that China is winning the trade war.

        Liked by 4 people

        • Hoosier says:

          Commodities are fungible. Argentinian bean meal will flow to China and ours will flow to where their meal was heading. Very small difference in landed cost for any bean meal consumers. Shipping costs are mostly in the load in and load out. The freight, meh. I used to trade physical commodities in a previous life.

          You should see the loading of a Panamax vessel. It is a sight to behold.

          Liked by 1 person

      • Deplorable_Infidel says:

        “It’s probably going to be used to instigate hatred for the USA among their population (look what the USA is doing to us, starving you!) which beats the drums of war.”

        I know a retired missionary who spent many years in China. His parents were also missionaries there. The Chinese people HATE their government and know that they are being lied to by that government. So even if their Government blames America, most likely it will not have the same impact as when OUR government lies to us with the MSM. Finally with PDJT many have “woke up” ; however, there still are millions of deceived dupes over here that think they are “free”.

        Like

    • SpanglishKC says:

      TRUMP TWEET FROM EARLIER TODAY:

      “We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!”

      Liked by 8 people

  4. Jon Schuck says:

    Hilarious and brilliant at the same time

    Liked by 7 people

  5. Johnny Bravo says:

    Dumb people asking dumb questions. Wilbur wastes 19 mins of his life speaking to the experts!

    Liked by 11 people

    • SpanglishKC says:

      I will be stealing this “intellectual property”…its too good not too

      Regards,
      Pres. Xi

      Liked by 1 person

      • Johnny Bravo says:

        In the politburo the conversations over the last 25 years has been,

        “Hey, comrades, Mao never said that the yanks would be this stupid; but guess what? They are!”

        “Anyways, I’ve ordered my new 5 mile long Island in the South China Sea, I know it’s ostentatious, but hey who cares, I’m rich beyond my wildest imaginations”

        Like

  6. treehouseron says:

    Genius level trolling.

    “If they’re already denying it exists, stopping it shouldn’t be very embarassing”

    Liked by 22 people

  7. Remington says:

    Oh man….Wilbur Ross dealing with imbeciles…absolute imbeciles..I never watch the media, but I have to wonder if they are all like this? Are they all this stupid? ‘Can’t even put a logical thought/ sentence together…

    Liked by 7 people

  8. Eric says:

    Appreciate the fact the female anchor at least addressed him as “Mr. Secretary” rather than simply calling him “Wilbur” like the other two did. Would an Obama cabinet appointee be addressed simply by their first name in a T.V. interview? Disrespectful.

    Liked by 11 people

    • treehouseron says:

      I see what you’re saying, but I wouldn’t read too much into it, they likely know Mr. Ross by first name from their decades talking with him on air.

      Liked by 1 person

      • rvsueandcrew says:

        Even so, treehouseron, I’m sure you agree, no matter how familiar one is with the Commerce Secretary, it isn’t appropriate to gain Sec. Ross’s attention in a broadcast by starting with the word, “Hey….. ”

        One of the male interviewers did that, didn’t catch which one.

        Like

    • L. Gee says:

      I bet Mr. Ross is completely and totally unconcerned about them using his first name rather than a title. You kinda get that way after a while. After all, President Trump even said once that he thinks people should call him “Donald.” We don’t, of course, but it just goes to show you how little attention these amazing men pay to such trite formalities from people whom they know probably dislike them.

      And if he’s not offended, I’m not going to waste my time being offended either!

      Liked by 3 people

  9. Guffman says:

    Wilburine is unflappable, never so much as even a hint of change in his pulse. Sundance put it well regarding effortlessly swatting gnats. Very enjoyable interview.

    Liked by 16 people

    • Sylvia Avery says:

      I became familiar with Wilbur Ross after the RNC where PDJT was nominated for President because I discovered I could no longer watch my favorite FOX News shows because overnight, it seems, they had turned insane.

      So, I began watching Fox Business Channel which I had only watched on rare occasions. To my delight, I discovered there were some reasonable people with shows on that channel and I started to watch them. And I discovered Wilbur Ross as a fairly frequent guest on various shows on that channel.

      And I fell like a ton of bricks for Wilbur. He is so smart and he brilliantly makes his points in such a plainspoken manner and with such an economy of words, I would finish watching every interview feeling like I had just listened to a college seminar. I was so impressed.

      When PDJT announced him as Sec of Commerce I almost completely blissed out. WOW! This is guy is just a total rock star.

      Liked by 3 people

  10. Turranos says:

    Wilbur always make a good day even better! What a great guy.

    Liked by 12 people

  11. SpanglishKC says:

    IN MY NEXT LIFE I WANT TO BE WILBUR ROSS…

    I hope everyone takes the time to view this clip. Ross is truly a SENSEI. NEVER shows exasperation, never talks down yet manages to demonstrate the stupidity of some people. If I were these anchors I would TAKE A WEEK OFF AND STUDY THE TREEHOUSE and learn something. These media types lose credibility every time they open their mouths…oh well I thoroughly enjoyed the laughs!!!

    “Every time we open our mouths, people can look into our minds.”

    Liked by 17 people

  12. woohoowee says:

    Sec Ross: Well let’s put it into perspective, Joe, this 50 billion that they’re talking about amounts to about 3/10’s of 1% of our GDP; so it’s hardly life-threatening activity. LOLOL!

    Then our Smooth Operator, Wilburine, moves right into our Smoother President’s tweet:

    Bahahaha! I need tissue 🙂

    Liked by 18 people

  13. MakeAmericaGreat says:

    No one is a better gnat swatter than Wilburine.

    Totally unruffled, completely confident and competent demeanor.

    LOVE this guy.

    No surprise he and Trump get along so well.

    How great is Wilbur? This great:

    Brings his own props to interviews and just tears the press apart. LOL!!!

    Liked by 18 people

  14. sturmudgeon says:

    Thanks, Sundance, for so strongly recommending this interview… truly enjoyed it!

    Liked by 3 people

  15. I can not imagine Wilbur Ross ever having a problem with high blood pressure. So calm, yet dangerous. Wilburine is…I am trying to think of a fitting….

    Viciously calm.

    Liked by 3 people

  16. thedoc00 says:

    Interesting that with over 95% of the Business, News Pundits and 60% of Congress and International Oriented Financiers declaring trade wars are bad and Trump is stupid because of the short term impacts on consumer goods and Wall Street International Businesses, not a one of them ever mentions:
    1. The nation that builds stuff and creates stuff, then sells into a market with no competitors eventually gets to; name the prices and eventually also has total control over the “service economy” of that market (the USA). That very same nation, which creates and builds stuff, actually has a growing GDP and a potentially growing middle class composed of skilled workers.
    2. It does not matter if Trump is placing tariffs on dumped goods, attacking intellectual property theft, attacking unfair monetary policy, or working a political issue because China can and will always make it a trade war as they know 95% of the media, big wall street money and the politician owned by big Wall Street Money support them. They also know their “trade war” attacks the most financially vulnerable in the US, consumers and/or those with retirement savings.
    3. Trump is thinking future US economic security vs the very short sighted timelines and horizons of Wall Street and US investors.

    Liked by 1 person

    • thedoc00 says:

      One last item, saw it discussed across the business news outlets that GD need to b defined to account for the US being a “service economy”. Again, they fail to realize or ignore the fact that the person controlling the manufacturing gets to control the services (especially the skilled labor end of creating and providing services).

      Liked by 1 person

  17. lokiscout says:

    If we are the market why would we be satisfied with just being the service economy? Much of what we buy is produced by US companies forced off shore by overbearing regulations and taxes and shipped back in through NAFTA. As any successful business knows you want to locate as close to your customer as possible.

    I’m an old hardware Engineer and this idea of a service based economy never made sense to me from the time I first started hearing about it in the 80’s. Always wanted to build things figured that’s why the good Lord gave me two hands.

    Don’t know if this is considered off topic but I felt the need to rant! Over now feel better sorry AdRem!

    Liked by 2 people

  18. Joel says:

    Interesting, informative article about China and how they think and work.

    https://imprimis.hillsdale.edu/how-to-meet-the-strategic-challenge-posed-by-china/

    Liked by 1 person

  19. MIKE says:

    I always enjoy Wilbur giving these economy guys and girls the ‘Bass-o-Matic’ treatment.

    Liked by 1 person

  20. USTerminator says:

    China does not buy anything from US unless she has to or has no choice. US buys from China because they are cheap but has plenty of choice: making them herself or buy elsewhere.
    The analogy is that China sells US the cable TV for $300 per month while US own the well and sells China drinking water for $30 per month. In a trade war, if US cancels the cable TV from China and get elsewhere for $310 and China stops to buy water from US but buying from neighbor who also needs to buy water from US as well. It would only cost China more.

    Liked by 1 person

  21. yy4u says:

    Remember the Sixties when the Lefties would chant “What If They Gave a War and Nobody Came?” Well, China has given a Trade War for 30 years and nobody showed up by China which means they won. Now with a president who puts the USA before Globalist interests, we have finally showed up.

    Like

  22. cyn3wulf says:

    Love listening to Wilbur, but I had as difficult a time listening to those questions as that one dude did getting them out…

    Like

  23. thedoc00 says:

    The striking fact that came from today’s discussions was that the US consumer is responsible for about 80% of China’s exports. Its called leverage and there are allot of folks on Wall Street who are on the wrong side of this lever but they are adjusting fast, kicking and screaming the whole way.

    China, Wall Street Globalists and Politicians are attempting eliminate this leverage, even while the President is attempting to use it. They are preying on the most vulnerable elements of the US economic equation, the consumer and those with retirement accounts.

    By the way, the US consumer drives over 40% of the worlds economy as whole.

    Like

  24. zooamerica says:

    “They’re going to be wrong again.”

    End

    Like

  25. RLC2 says:

    I’m embarrassed for CNBC’s financial news boobs, frankly..

    Like

  26. ledygrey says:

    Wilbur Ross = Yoda

    Like

  27. Foolsgold says:

    O Wilbur, such laid back & cool dude! He just recoined that phrase “wrong again”with the Chinese right behind Trump and right behind us! Send Trump and Wilbur some love! Lord knows I’m behind them 110%!

    Like

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