Pat Benic/CNP via ZUMA
Our Commerce Secretary tries his hand at justifying his trade war over steel and aluminum:
Wilbur Ross on @CNBC now: “There’s about 1 ton of steel in a car. The price of a ton of steel is $700 or so, so 25% on that would be one half of 1% price increase on the typical $35000 car. So it’s no big deal.” pic.twitter.com/SHJ7gYW9kS
— Carl Quintanilla (@carlquintanilla) March 2, 2018
Two things. First, that comes to $175, which is more than most families will get from the Republican tax cut they’re so proud of. They need to make up their minds whether $175 is a huge gift to the working class or “no big deal.” Second, isn’t it cute that Ross thinks the “typical” car costs $35,000? I wonder what kind of car he drives?
