Mike Blake | Reuters
The fast-spreading coronavirus has infected thousands of people in China and raised fears about a global pandemic — and that could have a positive impact on the U.S. economy, Secretary of Commerce Wilbur Ross said Thursday.
Ross said in a Fox Business Network interview that the disease, which Chinese officials say has more than 7,700 confirmed cases and has caused 170 deaths, will lead businesses to reconsider their supply chains.
That could help quicken the pace at which jobs and manufacturing are returning to the U.S. from overseas, he said.
“I don’t want to talk about a victory lap over a very unfortunate, very malignant disease,” Ross told Fox on Thursday morning. “But the fact is, it does give businesses another thing to consider when they go through their review of their supply chain.”
The coronavirus is “another risk factor that people need to take into account,” Ross said.