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Wilbur Ross defends Trump tariffs with a can of Campbell's soup

From money.cnn.com

Wilbur Ross thinks the outcry about steel and aluminum tariffs is "a lot to do about nothing." The Commerce Secretary said on CNBC Friday that any price increases related to the new tariffs would be very, very small, and held up a can of Campbell's Soup to make his point. "In the can of Campbell's soup, there's about 2.6 cents — 2.6 pennies — worth of steel. So if that goes up by 25%, that's about six-tenths of one cent on the price of the can of Campbell's soup," he said. Ross continued: "I just bought this can today at a 7-Eleven ... and the price was $1.99. So who in the world is going to be too bothered by ... (full story)

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  • Category: Fundamental Analysis