After consulting with contacts in Washington, Ross correctly predicted that George W. Bush would levy a temporary tariff on steel, which lasted from 2002 to 2003, long enough for the American mills purchased by Ross’s International Steel Group to make themselves competitive with Chinese importers.

The Chinese happen to like Ross back, and their government enterprises have made him a business partner in recent years. In 2008, he entered into a joint venture with the state-owned China Huaneng Group, led by a son of former Chinese premier Li Peng.

-Ben Schreckinger ‘Wilbur Ross’s Chinese love affairPolitico



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