Business & Economy · 3 views
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
When Wilbur Ross ran the Commerce Department in President Donald Trump’s first term, tariffs had one job: shrink the trade deficit.
AI Summary
Wilbur Ross, who headed the Commerce Department during President Donald Trump’s first term, said that the tariffs imposed then were intended to shrink the trade deficit. He now argues that the president is using tariffs for a different purpose. Ross also criticized the refunds issued for tariffs struck down by the Supreme Court, claiming they are benefiting the wrong recipients. He made these remarks in an interview with Fortune.
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