WASHINGTON (REUTERS) - Commerce Secretary Wilbur Ross said on Thursday (June 21) the United States needs to make it painful for its trading partners to have high trade barriers in order to reach President Donald Trump's ultimate goal of lowering barriers and a level playing field.
"What we have to do is create an environment where it's more painful for these parties that have these huge trade barriers, both tariff and non-tariff, got to make it more painful for them to keep those barriers than to get rid of them," he told CNBC.
"In the particular case of China, it's compounded by their disrespect of intellectual property, the forced technology transfers, the cyber security breaches."
EU Commission President Jean-Claude Juncker said on Thursday that tariffs imposed on the European Union by Mr Trump go against “all logic and history” and the EU will do what is required to rebalance trans-Atlantic trade.
“The United States’ decision to impose tariffs goes against that (trust),” Mr Juncker said in an address to the Irish Parliament.
“In fact, it goes against all logic and history. Our response must be clear, but measured.”
“We will do what we have to do to rebalance and safeguard” the EU, Mr Juncker said.