Wilbur Ross: Media Forced to 'Make Up Fiction' About Tax Bill

Wilbur Ross: Media Forced to 'Make Up Fiction' About Tax Bill

Wilbur Ross: Media Forced to 'Make Up Fiction' About Tax Bill

Ross bashed the Democrats and factions on the political left that have criticized the GOP-led tax plan and the promises made by President Donald Trump's administration, which put forth little evidence to back up the plan.

For starters, Ross said the USA has no intention of withdrawing from a leadership role in global trade.

Earlier this week the U.S. imposed tariffs of up to 50 per cent on imports of washing machines and solar panels from China and South Korea.

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"Trade wars are fought every single day", he said.

The rhetorical split follows reports that Ross has fallen out of favor with Trump.

The US Treasury Secretary, Steve Mnuchin, appearing in Davos alongside Mr Ross, said the tariffs had been a response to "inappropriate behaviour" by the US's trading partners.

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White House spokeswoman Sarah Sanders said at a press briefing on Monday in Washington that Trump "loves Wilbur" and has full confidence in him. If true, that's a shame, because Ross did a better job than Trump has to date explaining the president's trade policies to a hostile audience in Davos.

Days after raising import duty on solar panel and washers, the United States seemed to harden its stance in what was seen to be setting the stage for a trade war with China.

Ross also summarily dismissed the notion, put forward here past year by Xi Jinping, that China can take the lead in global trade. Unfortunately, every single day there are various parties violating the rules and taking advantage.

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