Commerce secretary says coronavirus will help bring jobs to North America

Commerce Secretary Wilbur Ross says he believes the coronavirus outbreak in Wuhan, China, will help return jobs to the US and Mexico.

"I think it will help to accelerate the return of jobs to North America -- some to US, probably some to Mexico as well," Ross said a day after President Donald Trump signed the US-Mexico-Canada Agreement, a major bipartisan trade deal and key priority for the Trump administration.

Fears over the Wuhan coronavirus have caused steep drops on Asian markets and the yuan has tumbled in offshore trading. Analysts have predicted that the virus could hurt China's economy.Read MoreUS Federal Reserve Chairman Jerome Powell said Wednesday that the central bank is"carefully" monitoring the coronavirus situation, noting that the economic disruption from the disease remains in"very early stages.

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