Trade wars fought every single day: US trade secretary

Days after raising import duty on solar panel and washers, the US seemed to harden its stance in what was seen to be setting the stage for a trade war with China. US trade secretary Wilbur Ross fired the latest salvo here by saying, “Trade wars are fought every single day. Unfortunately, every single day there are various parties violating the rules and taking advantage. There have always been trade wars: The difference now is US troops are now coming to the ramparts.”

He was responding to a question on fears of the US action igniting a trade war.

Since coming to power a year ago, president Donald Trump has taken a series of steps that are meant to protect American industry as part of the administration’s “America First” policy and raised fears of rising protectionism, which PM Narendra Modi said on Tuesday posed a bigger threat than climate change and terrorism.


Ahead of Trump’s much-awaited arrival in the Swiss ski resort, Ross said the administration’s net focus will be on property rights, steel and aluminium, sectors where China has a significant presence.

Trump has walked out of the Trans Pacific Partnership agreement but there were signs of revival of the deal led by Canada, Australia and Japan, that is expected to change the way trade is conducted. Asked about the move by Canada, US treasury secretary Steven Mnuchin made it clear that the US had to gain from the deal. “We are fans of bilateral trading agreements. We believe in free and fair trade. Anyone who wants to do trade with us in reciprocal basis is free to do it. We’re looking to increase exports.”