US-China 'fine tuning' trade deal: Wilbur Ross

Commerce Secretary Wilbur Ross is optimistic on the state of the trade talks

With the state of U.S.- China trade talks fluid day by day, United States Secretary of Commerce Wilbur Ross described the negotiating process right now as in the "fine-tuning" stage.

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"Clearly, we think there's some hope. We are optimistic we can get something done," Ross told FOX Business' Lou Dobbs.

He also stressed that when it comes to negotiating with China, it knows President Trump "means what he says and he says what he means," adding that Trump is "OK either way" if a deal doesn't come together.

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Ross reiterated earlier comments by Trump, who on Tuesday made as much clear: If the trade deal with China doesn't happen, it's OK with him.

"China's got to make a deal that I like, if they don't, that's it," Trump said during a cabinet meeting.

"He likes the tariffs we're collecting. It hasn't hurt import prices -- they're actually down from a year ago -- it hasn't hurt consumer spending, so it doesn't bother us."

- Wilbur Ross, United States Secretary of Commerce

Ross admitted the papering of the deal is very important because it means the details were nailed down, but he cautioned people from prejudging the deal while it's still being worked on.

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"If our negotiators felt there was no hope, they would have stopped," Ross said.

If no trade deal is agreed upon, Trump will go forward with the scheduled Dec. 15 tariffs.

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