DAREN JONESCU

Enjoying the view from Limbo

Tagged: Wilbur Ross

America Descending

Sometimes Trump Actually Does What He Wants

U.S. Commerce Secretary Wilbur Ross is a billionaire who made his fortune investing in failing American steel and manufacturing companies and then selling them at a profit. He naturally favors using federal trade policy to give an artificial short-term boost to American steel and manufacturing. After all, while tariffs will ultimately devastate the U.S. economy, workers, and middle class, he gets richer. This...

America Descending

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?...