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Wilbur Ross: Trump's tariffs shift from trade deficit to broader goals

By PulseAugur Editorial · [1 sources] ·

Wilbur Ross, former Secretary of Commerce under Donald Trump, has stated that the purpose and application of tariffs have evolved significantly. In Trump's first term, tariffs were primarily aimed at reducing trade deficits, often enacted under national security justifications. However, Ross notes that in a potential second term, tariffs could be used for a broader range of objectives, including political leverage, as seen with a proposed duty on Brazilian imports tied to the prosecution of Jair Bolsonaro. Ross also expressed concern that tariff refunds, following a Supreme Court decision, are not reaching the intended recipients, potentially benefiting importers more than the consumers who ultimately bore the cost. AI

RANK_REASON Former official provides analysis and opinion on past and potential future policy.

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Wilbur Ross: Trump's tariffs shift from trade deficit to broader goals

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Former official provides analysis and opinion on past and potential future policy.
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Catherina Gioino ·

    Wilbur Ross was Trump’s first-term tariff hawk. Now he says refunds give importers ‘an extra profit’ and pay them ‘more than the money’ they laid out

    The former Commerce secretary says importers who passed tariff costs on to customers are now being paid back for money they didn't lose.

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