Share
News

Commerce Secretary: Coronavirus Will Trigger 'Return of Jobs' to US

Share

Commerce Secretary Wilbur Ross suggested Thursday that the viral outbreak in China might offer an unexpected benefit for the U.S. economy: It could encourage American manufacturers in China to return to the United States.

“I think it will help to accelerate the return of jobs to North America. Some to U.S., probably some to Mexico as well,’’ Ross told Fox Business Network.

The new virus, from the coronavirus family, has paralyzed business in China.

Trending:
Watch: Actor Drops Devastating Truth Bomb on Alec Baldwin, Shows Why 'Rust' Gun Couldn't Have Fired Itself

The industrial hub of Wuhan and other Chinese cities are on lockdown.

China has reported more than 7,700 cases and 170 deaths.

The crisis has also begun to ripple through U.S. companies with operations in China.

Apple CEO Tim Cook has said the company’s suppliers in China have been forced to delay reopening factories that closed for the Lunar New Year holiday.

Do you think the coronavirus will bring jobs back to the U.S.?

More than half of Starbucks’ stores in China are now closed.

McDonald’s has closed several hundred restaurants in China.

Ross emphasized that he didn’t “want to talk about a victory lap over a very unfortunate, very malignant disease.’’

He added, though, that “the fact is, it does give businesses yet another thing to consider when they go through their review of their supply chain.’’

Even before the viral outbreak, many U.S. and other foreign companies had been rethinking their presence in China and considering their options for relocating elsewhere, possibly elsewhere in Asia.

Related:
Congressman: Fauci Must Resign Now That 'Smoking Gun' Documents Prove 'He Lied to the American People'

That is partly because President Donald Trump has imposed tariffs on $360 billion in Chinese imports in a war over Beijing’s economic policies and partly because Chinese labor and other costs have been rising.

Asked about Ross’ comments, Larry Kudlow, President Donald Trump’s top economic adviser, declined to endorse the notion that the U.S. economy stands to benefit from China’s health crisis.

“This is not about trade, jobs or any of that,’’ Kudlow told reporters.

He added: “The president has a lot of compassion for the Chinese situation. The threat of large numbers of people dying is a terrible thing. We just want to help.’’

The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.

Truth and Accuracy

Submit a Correction →



We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
, , , , , , , , ,
Share
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Conversation

The Western Journal is pleased to bring back comments to our articles! Due to threatened de-monetization by Big Tech, we had temporarily removed comments, but we have now implemented a solution to bring back the conversation that Big Tech doesn't want you to have. If you have any problems using the new commenting platform, please contact customer support at commenting-help@insticator.com. Welcome back!