U.S. Commerce Secretary Wilbur Ross disputed broader economic concerns that U.S. companies are becoming anxious about trade developments and postponing investment and hiring amid tensions.

“Anyone who thinks the economy is being wrecked doesn’t know what they’re talking about,” Ross said in a Bloomberg Television interview Thursday, saying the news reports on the Trump administration have been negative and played up troubles of smaller companies.

Ross was responding to a question about Federal Reserve Chairman Jerome Powell’s comment earlier this week that trade spats may weigh on growth. “Changes in trade policy could cause us to have to question the outlook,” Powell said at conference in Portugal. “For the first time, we’re hearing about decisions to postpone investment, postpone hiring.”

The commerce chief emphasized falling unemployment and lower taxes, and cited improving labor market conditions for women and blacks.

Ross said the U.S. has the upper hand on trade tensions with China and could pursue more tariffs than it already has. “If it really does get to be a big war, we have many more bullets than any of these other countries,” said Ross.

Tariffs on metal imports enacted on national security concerns are straining U.S. ties with allies from the European Union to Canada and Mexico. Other countries have become “spoiled” after taking advantage of free markets in the U.S. while erecting their own trade barriers, Ross said.

“That game is over,” said Ross. “We’re going to fix it by making it more painful for those countries to do bad practices than to do the right thing, which is to lower the trade barriers and lower their tariffs.”