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Trump tariff effects on beer and cars minimal: trade director Peter Navarro

Idea of a big downstream effect of tariffs is fake news: Peter Navarro

Mar. 02, 2018 – 6:14 – White House National Trade Council Director Peter Navarro on the Trump administration’s decision to impose tariffs on aluminum and steel imports.

President Donald Trump is sticking up for American workers and the U.S. economy with his proposed tariffs on steel and aluminum, according to White House National Trade Council Director Peter Navarro.

While beer brewers and auto manufacturers have expressed concern in wake of the announcement, the price effects would be minimal, Navarro told Maria Bartiromo on Fox Business’ “Mornings with Maria.”

The price of a six-pack of beer will rise by about 1 cent, and car manufactures will pass along a $45 increase per passenger car, according to Navarro. Despite concern over international companies imposing their own sanctions and raising prices for U.S. consumers, Navarro is not worried about retaliation. “This whole idea that there’s a big downstream effect—it’s just part of the fake news that’s going to be put out to oppose these tariffs,” Navarro said. “A penny for a six pack of beer—that’s worth it to put Americans back to work in two industries that we need.”

Read more at FOX Business…