US Commerce Sec Ross: Purpose of US tariffs is to modify China's behaviour

The US commerce secretary Wilbur Ross, speaking to CNBC this Tuesday, said that the purpose of new US tariffs is to modify China's behaviour.

Key quotes:

   •  US tariffs on Chinese goods were carefully thought through.
   •  Officials sought to put tariffs on Chinese items with least disruption to consumers.
   •  Tariffs are seen as having minimal impact on inflation.
   •  The US is trying to give China incentive for constructive, near-term talks.
   •  It is up to China to decide whether or when there will be more dialogue.