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

Updated 40 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 31,778,331 — Total deaths: 974,436 — Total recoveries: 21,876,025Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 6,943,078 — Total deaths: 201,930 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Missouri Gov. Mike Parson tests positive for coronavirus — Poll says 51% of Republicans trust Trump on coronavirus more than the CDC.
  5. Technology: The tech solutions of 2020 may be sapping our resolve to beat the coronavirus
  6. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  7. Sports: Less travel is causing the NBA to see better basketball.
  8. Future: America's halfway coronavirus response

Biden: Breonna Taylor indictment "does not answer" call for justice

Former Vice President Joe Biden. Photo: Leigh Vogel/Getty Images

Former Vice President Joe Biden on Wednesday condemned the grand jury indictment of a Louisville police officer who entered Breonna Taylor's home in March in a botched drug raid that led to her death, saying in a statement the decision "does not answer" for equal justice.

The big picture: Biden called for reforms to address police use of force and no-knock warrants, while demanding a ban on chokeholds. He added that people "have a right to peacefully protest, but violence is never acceptable."

Trump refuses to commit to peaceful transfer of power if he loses

President Trump repeatedly refused to say on Wednesday whether he would commit to a peaceful transition of power if he loses the election to Joe Biden, saying at a press briefing: "We're going to have to see what happens."

The big picture: Trump has baselessly claimed on a number of occasions that the only way he will lose the election is if it's "rigged," claiming — without evidence — that mail-in ballots will result in widespread fraud. Earlier on Wednesday, the president said he wants to quickly confirm a replacement for Justice Ruth Bader Ginsburg because he believes the Supreme Court may have to decide the result of the election.

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