Author Topic: Commerce Secretary Wilbur Ross dismisses paying more for cars due to Trump's tariffs as 'no big deal  (Read 719 times)

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Offline ABX

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This just wiped out the few thousand extra the average family got from the tax cuts. Just 175 per car (of course it will be more than that due to the supply chain). More for products that use aluminum and steel (beer, coke, appliances (which are already getting another tax, err, I mean tariff), etc, etc, etc. Plus, the secondary costs such as increased costs to trucking companies to bring the food to you, grocery stores will pay more for refrigerators, etc.. all impacting other sectors.

The government should get out of any and all economic manipulation like this. 

Quote
Commerce Secretary Wilbur Ross dismissed concerns about Americans paying higher prices for cars as a result of President Trump's steel tariff as "no big deal" in comments that are widely being slammed as "tone deaf" and "out of touch."
Ross argued that one ton of steel costs about $700, and there is about one ton of steel in a car, "so 25 percent on that would be one half of 1 percent price increase on the typical $35,000 car. So it's no big deal.".....

https://www.msn.com/en-gb/news/msn/commerce-secretary-wilbur-ross-dismisses-paying-more-for-cars-due-to-trumps-tariffs-as-no-big-deal/ar-BBJNnaz