Commerce Secretary Wilbur Ross on Thursday clarified comments he made at the World Economic Forum in Davos, Switzerland, that trade wars are heating up. He told the FOX Business' Maria Bartiromo he does not see a race to the bottom and his comments are recognition that others are engaging in trade abuses.
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"Every time someone violates trade rules, that to me is an act of war," he said on "Mornings with Maria." "Dumping steel is an act of war. Dumping aluminum is an act of war, dumping anything. Forcing technology transfer-- that’s the same thing. That's what I had in mind."
Ross also characterized the state of growth in the U.S. economy. He said America is back on track thanks to the tax bill.
"One of the best things for consumer spending is something approaching two million American workers who got thousand dollar bonuses in January--specifically because of the tax bill. Who would ever have thought that, that would happen?," he said. "But that's high velocity money because that's incremental money mostly to people in the middle-income bracket-- very high propensity to spend and therefore that money will get pumped right into the economy."
When Ross was asked about opposition to the tax bill from leaders of the Democratic Party he said: "They have no alternative but to make up fiction, but eventually facts overcome fiction."
"And I think the fella who just got the thousand dollar check doesn’t care what the left wing media says, and the person who gets the tax cut in the next withholding, he or she is also not going to care what the left wing media says," Ross added.