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Donald trump’s commerce secretary: tariffs raising vehicle prices $175 is “trivial”

according to Secretary of Commerce Wilbur Ross defended President Trump’s outline to lift tariffs on steel & aluminum by a could of Campbell soup, a Budweiser tallboy, & some fundamental arithmetic.
“In a could of Campbell’s Soup, there are about two.six pennies’ worth of steel,” Ross argued, holding up a could of soup on CNBC.
Republican governors, senators, & representatives have all come out versus the outline — even Trump’s chief economic adviser Gary Cohn is versus it.
He went on to give another example:“There’s about 1 ton of steel in a vehicle,” Ross said on CNN.
Extremely it’s no large bargain.”In his estimate, which would amount to a roughly $175 value promote on a vehicle.

UPDATE one-further automakers warn Donald trump metal tariffs would boost vehicle prices

(Adds Honda statement, background, earlier Toyota statement, Secretary Ross comments to CNBC)with David ShepardsonWASHINGTON, March two (Reuters) – further automakers on Friday warned which U.S. President Trump’s reported steel & aluminum tariffs would boost vehicle prices with hiking commodities costs for industrialists.
Auto lobbyists were continue scrambling to learn the details of the tariffs & if they would apply to all countries & for what time period.
Officials privately continue held out wish which Trump would change his mind.
There are better ways to address worries about the American steel & aluminum industries.
(Reporting with David Shepardson; editing with Grant McCool & David Gregorio)

Beer drinkers & vehicle buyers would be between those injury with Donald trump’s steel & aluminum tariffs

As it stated in The American Automotive Policy Council, that represents General Motors, Ford & Fiat Chrysler, warned in a statement final 30 days that tariffs on steel & aluminum would lead to higher prices for the materials in the U.S. compared by what foreign competitors pay.
“This would place the U.S. automotive industry, that supports further than seven mn American jobs, at a competitive disadvantage,” Matt Blunt, the council’s president, said in a Feb. 16 statement.

collected by Emily Jack

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