Billionaire Mocks “Trivial” Effect of Steel Tariffs
U.S. Commerce Secretary Wilbur Ross, who looks old enough to have personally lived through the fall-out from the 1930 Smoot-Hawley Tariff Act, insists that Donald Trump’s big, beautiful steel tariff will have only a “trivial” effect on prices — equivalent, he claims, to 0.6 cents on a can of Campbell’s soup. Are Trump’s surrogates as dumb as being Trump’s surrogates makes them appear?...