Wilbur Ross: "We shall see" what China commits to
US secretary of commerce, Wilbur Ross, speaks to CNBC
- Everybody will be happy if China lives up to its commitments
- There is large trade gap on auto and auto parts
- Autos trade deficit with Germany is about $30 billion
- Goal is to increase German auto production in the US
Thus far, China is taking the 'silence is golden' approach as they're refusing to comment or commit firmly to anything following the Trump-Xi meeting in Buenos Aires. He's now touching a little on autos as well, notice the subtle mention of the trade deficit to Germany there?