Some highlights so far
Wilbur Ross – US Commerce Secretary – is testifying on Capitol Hill today on trade tariffs.
To watch live, you can go to the CSPAN website (can’t find an embed code). CLICK HERE.
Some headlines from his testimony:
- US granted 42 product exclusion requests on steel tariff
- US denying 56 exclusion requests on steel tariffs
- Has received more than 20,000 exclusion requests
- US to hold hearings on auto tariffs probe on July 19-20
- We can’t grant product exclusions from quotas
- We are investigating potential profiteering from tariffs
- New US steel production should help with higher prices
- US to decide shortly whether to start 232 probe
- Trump concluded we need more than just talk with China
- There has been years of talk on IP.
- Unless we put more painful pressure on China, it is unlikely we succeed.
- If we don’t fix the trade problems now, when will we do it?
- I don’t think China wants a trade war
- Expect NAFTA to be renegotiated after Mexico election and the tariffs to lifted to Canada and Mexico