U.S. Commerce Secretary Wilbur Ross touted the historic U.S.-China trade deal and the United States-Mexico-Canada Agreement signings on Thursday, offering up some bad news for Democrats obsessed with removing President Trump from office.
Appearing on Fox Business Network’s “Lou Dobbs Tonight,” Ross said the president has turned back any thoughts of an economic downturn in 2020, which should bode well for Trump’s reelection effort.
“Whatever fears people might have had of a recession next year, forget it,” Ross said. “I think that’s almost mechanically impossible to have a recession next year.”
The secretary threw in one stipulation to that prediction.
“If the Federal Reserve goes crazy and raises rates, could be all bets are off,” Ross said.
Trump has voiced his displeasure with Federal Reserve Chairman Jerome Powell on several occasions over interest rates.
Host Lou Dobbs chimed in with a smile to say, “I understand that Chairman Powell is paying attention to his tutor.”
Ross spoke on why President Trump is having such success with the economy — even if the media largely ignores his record-breaking performance.
“He has the courage of his convictions; second is determination to live up to his campaign promises,” he said. “Those are very rare characteristics in Washington DC.”
Dobbs noted the animosity on the left toward the president, saying their commitment to “subverting” him has not slowed the progress.
“No it has not, and I don’t think it will,” Ross told Dobbs.
He then suggested foreign governments are not taking the Democrat Party’s blind rush to impeach Trump seriously.
“Nor interestingly has it slowed down his ability to deal with foreign countries,” Ross noted. “China, if they took the impeachment seriously, would never have done phase one.”
In discussing Trump’s efforts to establish fair and reciprocal trading relationships with other countries, Ross spoke on the impact of the two recent deals reached.
“Just to put a number to it, the two deals — USMCA and the China deal — is over $2 trillion in bilateral trade that has been changed,” he said. “Putting that in perspective, that’s 10 percent the size of our whole economy.”
“Momentous. I mean, this is really big stuff and everybody else is aware of it,” Ross added.
With the World Economic Forum coming up next week in Davos, Switzerland, Ross said President Trump will now be able to attend and tell world leaders his policies are working.
“Davos is very different now,” he insisted. “They’re saying how do we adjust to the new world. Well, what’s new in the world is basically the changes that President Trump has made.”
Changes that extend beyond trade.
“He’s also changing the relationship we have in terms of who pays for us defending them,” Ross said. “Big numbers going more into NATO from the European countries — that’s just like a trade victory for us because that’s less that we have to foot for defending them.”
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