US Commerce Secretary Wilbur Ross expressed doubts over the US and China reaching a resolution before the truce period ends on March 1, saying the two sides were “miles” from striking a deal.
“Frankly, that shouldn’t be too surprising,” Ross said in an interview with CNBC. There are still “lots and lots of issues” to be resolved, he added, such as “structural reforms” and a system of “penalties” to be put in place before the dispute can be called off.
“We would like to make a deal but it has to be a deal that will work for both parties,” Ross said. “We’re miles and miles from getting a resolution.”
Ross also mentioned the need to cut back the US’s “intolerably big trade deficit” with China, which last year reached the twelve-year high of $323.3 billion.
“The other problem is the future. That’s the 2025 plan that they have to try to dominate world high tech industries. We have to protect that,” said Ross.
You must log in to post a comment.