Insult to Injury
U.S. Steel Tariffs' Body Blow
It's the nation's car and machinery industries that will suffer.
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To a hammer, every problem looks like a nail. To U.S. Commerce Secretary Wilbur Ross -- who owes much of his personal wealth to buying U.S. steel mills and selling them on -- there's no manufacturing problem that can't be solved with metal tariffs.
President Donald Trump is set to announce steep tariffs on steel and aluminum imports Thursday, people familiar with the matter told Jennifer Jacobs and Joe Deaux of Bloomberg News. Ross told CNBC last week that he was considering actions to limit imports of steel and aluminum "in a very thoughtful and systematic way."