Jan 30, 2020

Wilbur Ross: Coronavirus will "help" bring jobs back to the U.S. from China

Commerce Secretary Wilbur Ross said Thursday on Fox Business' "Mornings with Maria" that the spread of coronavirus in China will "help to accelerate the return of jobs to North America."

Why it matters: The virus has killed 170 people in China and infected more than 7,700 people. Worries about the virus rattled U.S. markets this week as the Federal Reserve and other financial entities debated if they should weigh in on its potential impact.

The exchange:

WILBUR ROSS: "Well, first of all, every American's heart has to go out to the victims of the coronavirus. So I don't want to talk about a victory lap over a very unfortunate, very malignant disease. But the fact is, it does give businesses yet another thing to consider when they go through their review of their supply chain. And top of all the other things, because you had SARS, you have the African swine virus there, now you have this. It's another risk factor that people need to take into account. So I think it will help to accelerate the return of jobs to North America, some to U.S., probably some to Mexico as well."
MARIA BARTIROMO: "Oh, that's a good point, actually. Yeah, because these companies have to do something. They're going to have to have an alternative once they shut down things in China is what you're saying."
ROSS: "Absolutely. And you've already heard Apple talking about figuring out how to replace some of the Chinese production. You had others also doing the same thing. And so I think there's a confluence of factors that will make it very, very likely more re-shoring to the U.S., and some re-shoring to Mexico."

Go deeper: U.S. warned to prepare for worst on coronavirus

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 5,929,312 — Total deaths: 357,781 — Total recoveries — 2,385,926Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 1,709,996 — Total deaths: 101,002 — Total recoveries: 391,508 — Total tested: 15,192,481Map.
  3. States: New York to allow private businesses to deny entry to customers without masks.
  4. Public health: Louisiana Sen. Cassidy wants more frequent testing of nursing home workers.
  5. Congress: Pelosi slams McConnell on stimulus delay — Sen. Tim Kaine and wife test positive for coronavirus antibodies.
  6. Business: Louisiana senator says young people are key to reopening the economy —U.S. GDP drop revised lower to 5% in the first quarter.
  7. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 17 mins ago - Politics & Policy

Twitter fact-checks Chinese official's claims that coronavirus originated in U.S.

Chinese Foreign Ministry spokesman Zhao Lijian. Photo: Greg Baker/AFP via Getty Images

Twitter slapped a fact-check label on a pair of months-old tweets from a Chinese government spokesperson that falsely suggested that the coronavirus originated in the U.S. and was brought to Wuhan by the U.S. military, directing users to "get the facts about COVID-19."

Why it matters: The labels were added after criticism that Twitter had fact-checked tweets from President Trump about mail-in voting, but not other false claims from Chinese Communist Party officials and other U.S. adversaries.

Podcast: Trump vs. Twitter, round two

President Trump is escalating his response to Twitter’s fact check of his recent tweets about mail-in voting, issuing an executive order that's designed to begin limiting social media's liability protections. Dan digs in with Axios' Margaret Harding McGill.

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