on a can of whether it s bud riser beer, campbell s soup or coke. you notice the companies complaining never say what s the actual impact. they never say what s the actual amount. this is nonsense. these are the actual figures. i used to be in the steel business. i sold to car companies. sold the can manufacturers steel. those are the facts. i know you know this industry well, you know manufacturing well. one of the most interesting we have is this, president obama put tariffs on chinese tires in 2009. the goal was to protect u.s. tire companies and they were loving it. he saved 1,200 tire jobs. 3,700 retail jobs were lost as a result. that s according to an analysis. that would show tariffs hurt more than they helped in that
so if that goes up by 25%, that s about 6/10 of one cent on the price of a can of campbell s soup. i just bought this can today at a 7-eleven down here and the price was $1.99. who is going to be too bothered by 6/10 of a cent well, the cans can add up. we must protect our country and our workers he wroe the steel industry is in bad shape. if you don t have steel, you don t have a country. it was something that the president campaigned hard on in 2016. there are many critics and a few supporters so far and it s another example the president turning public orthodox on the head. steven muller is joining us. and max boot.
you know what that adds up to? one-half of one percent of our economy. it s fine to talk about big, broad things. these are the facts and the facts don t support the argument that people should be worried that it will hurt the economy. it s rubbish. so, obviously, campbell s soup, as you know, said any new broad based tariffs on steel, insufficient amount of which is produced in the united states will result in higher prices and the safist more affordable parts. toyota said it will raise the cost of cars and trucks in america. you talked about the average cost of a car, $35,000 would go up .5 percent. $20,000.
have on consumers on fbn. here s what he said. i bought a can of campbell s soup today at the 7-eleven. it was $1.99 for the can. there s about 3 cents worth of steel in this can. if it goes up 25%, that s a tiny fraction of one penny. that s not a noticeable thing. sure, it may not be a huge difference for a tin can, but what about a larger purchase like a washing machine, a new car, ford, general motors and toyota responding to the tariffs with toyota saying car prices would go up, quote, the administration s decision to impose substantial steel and aluminium tariffs will adversely impact automakers, the automotive seller community and consumers. again the white house says it is ironing out the details and should learn more next week. the president says he hopes to
a trade war develop out of these first moves, however unlikely that might be, then you start disrupting the global economy. if we pull out of nafta, again, for instance, that is something that will have enormous consequences for the economy and whether a can of campbell s soup goes up a couple cents. ron, thank you so much for spending your morning with us. the departure of hope hicks and whether the white house comment doomed her in the white house. 3, 2, 1. not cool. freezing away fat cells with coolsculpting? now that s cool! coolsculpting safely freezes and removes fat cells with little or no downtime. and no surgery. results and patient experience may vary. some rare side effects include temporary numbness, discomfort and swelling. ask your doctor if coolsculpting is right for you and visit coolsculpting.com today. for your chance to win a free treatment. burned me up and down, shno way to cool it. every time you kiss me it s like sunshine and whiskey