WTF is the Commerce Secretary Babbling About?

WTF is the Commerce Secretary Babbling About? June 23, 2018

Commerce Secretary Wilbur Ross testified before a Senate committee about Trump’s incredibly short-sighted tariff scheme, which threatens to launch a trade war that hurts virtually everyone. During that testimony he said something that has left everyone, including economists, scratching their heads.

Throughout Ross’s testimony Wednesday, committee members criticized Trump’s tariffs.

Democratic Sen. Michael Bennett challenged Ross to say whether the U.S. has a trade deficit with Canada on steel.

“We don’t have a trade deficit of note (on steel),” Ross replied. “We have a surplus in dollars; we do not have a surplus in physical value.”

Um. Okay. And how does one measure “physical value” other than in dollars? I can only surmise that “physical value” means how Trump feels about it physically. In his “gut” he “feels” like we have a trade deficit with Canada and, thus, we do have a trade deficit with Canada. Ipso facto, abracadabra, badda boom badda bing, if you know what I mean. Seriously, WTF?

"I'd go along with you on this."

Why I Believe Christine Blasey Ford
"Attempted rape. And yes he should have been arrested and done his time. But it ..."

Why I Believe Christine Blasey Ford
"When the only defense you have is to throw political shit at the wall and ..."

Trump Makes Terrible Arguments to Get ..."
"It's "nice" to know Judeo-Christian "values" permit rape."

Why I Believe Christine Blasey Ford

Browse Our Archives

Follow Us!


TRENDING AT PATHEOS Nonreligious
What Are Your Thoughts?leave a comment