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Wilbur Ross: Tariffs are ‘typical Trump’ high-risk, high-reward play

26 1
09.04.2025

As the White House presses ahead with sweeping tariffs on dozens of nations that could upend the global economy, President Trump's former Commerce secretary sees it as “typical Trump.”

“This is probably the most important decision that he will make during his whole next term,” Wilbur Ross, who served as Commerce secretary for the entirety of Trump’s first term, told The Hill in an interview.

“If he gets it right, it’s off to the races. If he gets it wrong, that means a very good chance that the Republicans will lose control of the Congress in the midterms,” Ross continued. “This is sort of typical Trump in that it’s high-risk, high reward.”

The tariffs, which President Trump announced last week, went into effect at 12:01 a.m. EDT Wednesday. There is a baseline 10 percent tariff on all countries, with some nations facing much higher rates, including China, India, Vietnam, Cambodia, Thailand, South Korea and Japan. That’s on top of previously announced tariffs on auto imports and steel and aluminum imports.

The stock market has taken a tumble in response to the tariffs, which has come with mixed messaging about whether they are setting up negotiations. Some Republicans have expressed unease with the approach........

© The Hill