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Wilbur Ross Mocked for Using Campbell’s, Coke, and Budweiser Cans to Denounce ‘False Hysteria’ of Trump Tariffs

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‘Let Them Eat Soup’

Possible billionaire Commerce Secretary Wilbur Ross is most-famous for the $600 custom embroidered velvet slippers he wore one year ago to Trump’s speech before a joint session of Congress. Now, he’s famous for something else.

Secretary Ross on Friday tried to sell his aluminum and steel tariffs that President Trump announced Thursday that have caused the markets to tank. And tank they have. The DOW has dropped 600 points over the past two days so far.

Ross took to CNBC and appeared with props: cans of Campbell’s soup, Coke, and Budweiser, holding up the cans and telling consumers the 10 percent tariff on aluminum and 25 percent tariff on steel will have “limited impact,” as the sidebar shows the DOW down 274 points, and growing.

“In a can of Campbell’s Soup, there are about 2.6 pennies worth of steel. So if that goes up by 25 percent, that’s about six-tenths of 1 cent on the price on a can of Campbell’s soup,” Ross said. “I just bought this can today at a 7-Eleven … and it priced at a $1.99. Who in the world is going to be too bothered?”

Earlier in the day, Ross, who is reportedly worth somewhere between $700 million and several billion dollars, had tried to convince consumers the tariffs which he reportedly pushed Trump into, will have little impact on those buying a $35,000 car.

“There’s about 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 $35,000 car. So it’s no big deal.”

RELATED: Trump Unites Nation Against Him With Tweet Calling Trade Wars ‘Easy to Win’ That Is Universally Mocked and Condemned

He also called the pushback on the tariffs “false hysteria.”

On social media, Ross was mercilessly mocked.

RELATED STORIES:

Billionaire Trump BFF Unloaded Millions in Steel-Related Companies Last Week – Right Before Tariffs Announced: Report

Trump Just Threatened International Taxes That Dwarf His Steel Tariff – Which Tanked the Markets

Fox News Contributor Freaks the Heck Out After Trump Announces Steep Tariffs and Market Plunges 500 Points

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‘Minneapolis Is Burning’: Shocking Videos Emerge as Protesters Seek Justice for George Floyd

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Protesters and police clashed for a second night in Minneapolis as the former cop who killed George Floyd remains a free man.

Photos and video from the scene show at least one business burning.

Here are some of the images from the protest:

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US Breaks 100,000 Mark for Coronavirus Deaths

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At 1:02 PM the United States coronavirus death toll passed the 100,000 mark. It’s been just four months and eight days since the first case of the deadly virus was diagnosed in the U.S.

According to Johns Hopkins and NBC News, the death toll is now 100,012.

President Donald Trump spent months not taking action and downplaying the threat, then falsely claiming it would “disappear,” like a “miracle.”

A new study shows President Trump’s decision to cut off incoming traffic from China forced hundreds of thousands to enter the U.S. without being tested, likely resulting in the huge numbers of coronavirus infections. Trump repeated that deadly error when he shut down traffic from Europe.

The United States has more infections and more coronavirus deaths than any other nation, by far.

This is a breaking news and developing story. Details may change. This story will be updated, and NCRM will likely publish follow-up stories on this news. Stay tuned and refresh for updates.

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DOJ Refuses to Prosecute GOP Senator Accused of Dumping Stocks in Post-Coronavirus Briefing Insider Trading Scandal

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Bill Barr’s Dept. of Justice has closed the file on U.S. Senator Kelly Loeffler, refusing to prosecute the Republican from Georgia accused of insider trading. Loeffler, who is in an increasingly desperate election bid, was accused of selling millions of dollars in stocks after receiving confidential information on the impending coronavirus pandemic before it tanked the markets.

The FBI was looking into stock trades of Sen. Loeffler, along with those of Sen. James Inhofe (R-OK), Sen. Dianne Feinstein (D-CA), and Sen. Richard Burr (D-NC). All investigations except for the one into Senator Burr have been dropped, The Wall Street Journal reports.

All three Senators whose cases were dropped have said their investment advisors made the trades without their prior knowledge.

Loeffler was appointed to her seat in January by Gov. Brian Kemp to complete the term of Senator Johnny Isakson, who resigned. She is down in the polls. Her husband, Jeffrey Sprecher, is the chairman of the New York Stock Exchange (NYSE). He gave Trump’s Super PAC a $1 million check last week. The couple reportedly have donated $3.2 million to political campaigns, mostly Republican.

“Loeffler and her husband sold 27 stocks between January 24 and February 14 at a value of $1.28 million and $3.1 million, according to Senate financial disclosure records,” CNN reported in March. “They also purchased three stocks for between $450,000 to $1 million, including shares in Citrix, a software company used for teleconferencing that’s one of the few that’s gained value amid the coronavirus outbreak.”

Her husband “recently acquired as much as $415,000 in stock in DuPont de Nemours, a chemical company that manufactures protective equipment in exceedingly high demand because of the coronavirus pandemic,” the AP reported last month.

 

 

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