May 1, 2018 / 3:48 PM / a year ago

Wilbur Ross says U.S. economy strong despite trade issues

Wilbur L. Ross Jr., Secretary, U.S. Department of Commerce, speaks at the Milken Institute 21st Global Conference in Beverly Hills, California, U.S., May 1, 2018. REUTERS/Mike Blake

BEVERLY HILLS, Calif (Reuters) - U.S. Commerce Secretary Wilbur Ross said the American economy is strong despite a range of uncertainties over global trade.

There are “lots of clear signs” that the U.S. economy is doing “very, very well,” Ross said on stage Tuesday at the Milken Institute Global Conference in Los Angeles.

Ross cited such factors as the “reshoring” of jobs to America, deregulation, and tax cuts benefiting companies and individuals.

Ross also noted that steel tariffs negotiations with Canada, Mexico and the European Union were making enough progress to delay imposition another 30 days.

He added that separate negotiations with the E.U. over potential tariffs on U.S. goods were “a work in progress,” with no solution yet.

Reporting by Lawrence Delevingne; Editing by Chizu Nomiyama

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