>>> WELCOME BACK. I’M STEPHANIE RUHLE.
THE PRESIDENT TOOK TO THE STAGE
THIS WEEKEND TO BRAG ABOUT THE
ECONOMIC ACHIEVEMENTS OF HIS
ADMINISTRATION.
ADMINISTRATION. TALKING ABOUT EVERYTHING FROM
LOW UNEMPLOYMENT TO TRADE
DEFICITS AND JOBS.
>> WE’VE ADDED 3.7 MILLION NEW
JOBS SINCE THE ELECTION, A
NUMBER THAT IS UNTHINKABLE IF
YOU GO BACK TO THE CAMPAIGN.
>> THE PRESIDENT CLAIMED 3.5
MILLION JOBS IS UNTHINKABLE.
WELL, IT’S NOT UNTHINKABLE.
BECAUSE THAT WAS THE PACE WITH
THE LAST FEW YEARS OF THE OBAMA
ADMINISTRATION.
ADMINISTRATION. PRESIDENT OBAMA ACTUALLY CREATED
MORE JOBS IN THE LAST 18 MONTHS
OF HIS ADMINISTRATION THEN TRUMP
CREATED IN THE FIRST 18 MONTHS
OF HIS TERM.
THE PRESIDENT THEN MOVED ON TO
WAGES.
WAGES. >> MANUFACTURING WAGES ARE
EXPECTED TO RISE AT THE FASTEST
RATE IN OVER 17 YEARS.
>> THAT SOUNDS GREAT.
HOWEVER, THE ONLY SOURCE WE CAN
FIND FOR THAT CLAIM IS IN THE
TRANSCRIPT FOR PRESIDENT TRUMP’S
SPEECH ON FRIDAY.
WE WOULD LOVE TO KNOW THAT
SOURCE SO I INVITE THE WHITE
HOUSE TO SHARE THAT.
ESPECIALLY CONSIDERING THE FACT
THAT WAGE GROWTH HAS SLOWED
SIGNIFICANTLY UNDER PRESIDENT
TRUMP’S ADMINISTRATION.
TRUMP’S ADMINISTRATION. AND AS WAGES REMAIN STAGNANT,
INFLATION, THAT OLD DOG,
CONTINUES TO RISE, WHICH WIPES
OUT ANY SMALL GAINS CONSUMERS
MIGHT SEE IN THEIR WALLETS.
SOON, YOU COULD BE PAYING EVEN
MORE AT THE GROCERY STORE.
THANKS TO THE ONGOING TRADE WAR
SPARKED BY PRESIDENT TRUMP.
JOINING ME NOW TO TALK ABOUT THE
IMPACT OF TRADE AND TARIFFS, JIM
AGGRIEVY.
AGGRIEVY. LET’S WALK THROUGH THIS.
U.S. PRICES FOR STEAL ANDEL AND
ALUMINUM ARE UP SINCE THE START
OF THE YEAR.
33% FOR STEEL AND 11% FOR
ALUMINUM.
ALUMINUM. IF YOU ARE A STEEL OR ALUMINUM
PRODUCER LIKE U.S. STEEL, THAT’S
AMAZING.
AMAZING. BUT THERE ARE A LOT LESS JOBS IN
THE ALUMINUM AND STEEL
PRODUCTION INDUSTRY THAN THOSE
WHO USE ALUMINUM AND STEAL.
SO IS THAT GOING TO AFFECT HOW
MUCH WE PAY FOR BEER AND SODA
AND THE JOBS IN THOSE
INDUSTRIES?
INDUSTRIES? >> WELL, IT VERY MUCH COULD,
STEPHANIE.
STEPHANIE. U.S. BEER SUPPORTS 2.2 MILLION
AMERICAN JOBS.
AMERICAN JOBS. AND THESE TAR RICHES ON ALUMINUM
AND ON STEAL, WE ESTIMATE AMOUNT
TO A $350 MILLION TAX ON BEER
BREWERS IN THE UNITED STATES.
FROM THE LARGEST BREWERS TO THE
SMALLEST BREWERS.
SMALLEST BREWERS. AND THOSE BREWERS ARE GOING TO
HAVE TO FIGURE OUT A WAY TO
INCORPORATE THOSE ADDED COSTS IN
THEIR PRODUCTION.
THEIR PRODUCTION. ALUMINUM IS THE SINGLE BIGGEST
INPUT COSTS FOR AMERICAN BREWERS
AND THESE TAXES ARE HAVING A
GREAT AFFECT ON OUR BUSINESS.
>> HOW MUCH MORE CAN CONSUMERS
BE EXPECTED TO PAY?
>> WE’RE LUCKY ENOUGH IN THE
UNITED STATES TO HAVE NEARLY
6,000 BREWERYIES IN THIS COUNTRY
FROM THE LARGEST TO THE
SMALLEST.
SMALLEST. THOSE ARE 6,000 INDIVIDUAL
BUSINESSES.
BUSINESSES. THEY’RE REALLY GOING TO HAVE TO
FIGURE OUT HOW TO DEAL WITH
THESE COSTS.
THESE COSTS. THE LAYOFF WORKERS, WE ESTIMATE
THESE TARIFFS COULD LEAD TO
20,000 LOST JOBS SUPPORTED BY
AMERICAN BREWING.
AMERICAN BREWING. RAISE PRICES.
RAISE PRICES. CUT THEIR OFFERINGS.
SO EVERYONE IN BEER IS GOING TO
HAVE TO DEAL WITH THIS IN THEIR
OWN WAY.
OWN WAY. >> HAVE YOU SHARED THIS DATA AND
PROJECTIONS WITH THE
ADMINISTRATION?
ADMINISTRATION? I THINK BACK TO THE FIRST TIME
WE WERE TALKING ABOUT THE
ALUMINUM AND STEEL TARIFFS AND
ROSS CAME ON TELEVISION WITH A
CAN OF SODA AND CAMPBELLS SOUP
AND SAID NO ONE KNOWS THE PRICE
OF THESE THINGS, IT’S JUST A
COUPLE OF CENTS.
>> WELL, STEPHANIE, THOSE
PENNIES ADD UP.
LAST YEAR IN THE UNITED STATES,
AMERICAN BREWERS BOUGHT 36
BILLION, WITH A "B," ALUMINUM
CANS AND BOTTLES SO THOSE
PENNIES ADD UP.
WE HAVE SHARED THIS INFORMATION
WITH THE ADMINISTRATION.
LAST MONTH, 32 MEMBERS OF
CONGRESS SENT A LETTER TO
ATTORNEY GENERAL SESSIONS ASKING
FOR AN INVESTIGATION INTO A
PARTICULAR PRICE OF HOW ALUMINUM
PRICES ARE SET FOR BEER BREWERS
CALLED THE MIDWEST PREMIUM.
WE’RE VERY CONCERNED ABOUT THE
MIDWEST PREMIUM.
MIDWEST PREMIUM. WE’RE VERY CONCERNED ABOUT THE
TARIFFS LASTING A LONG TIME.
WE’RE TALKING TO ANYONE IN A
POSITION OF AUTHORITY WHO CAN
HELP US OUT.
>> WHAT DO THEY SAY BACK TO YOU?
WHEN YOU SHARE THIS WITH THE
ADMINISTRATION, WHAT HAS THEIR
RESPONSE BEEN?
RESPONSE BEEN? >> I THINK THE ADMINISTRATION’S
RESPONSE IS "WE NEED TO BRING
BACK JOBS IN A CERTAIN SECTOR OF
THE MANUFACTURING ECONOMY.
THEREFORE, BREWERS, SODAMAKERS,
AIRPLANE MANUFACTURERS, FARMERS,
YOU’RE JUST GOING TO HAVE TO
TAKE ONE FOR THE TEAM, TEAM
USA."
USA." >> JUST QUICKLY, AREN’T THERE A
LOT MORE JOBS, AS I MENTIONED
EARLIER THAT ARE ASSOCIATED WITH
COMPANIES THAT USE ALUMINUM AND
STEEL THAN THERE ARE JOBS WITH
COMPANIES THAT PRODUCE ALUMINUM
AND STEEL?
AND STEEL? >> WE BELIEVE THERE ARE.
THAT’S WHY THIS POLICY IN OUR
VIEW IS WRONG HEADED.
TARIFFS ARE TAXES.
AND SOMEONE HAS TO PAY THOSE
TAXES.
TAXES. WHETHER IT BE THE CONSUMER OR
THE PRODUCER OF BEER AND OTHER
PRODUCTS THAT AMERICANS USE.
BEER IS A SHINING JEWEL IN
AMERICAN MANUFACTURING RIGHT
NOW.
NOW. AS I SAY, 2.2 MILLION AMERICANS
OWE THEIR LIVELIHOODS IN ONE WAY
OR ANOTHER TO THE PRODUCTION AND
DISTRIBUTION OF BEER.
WE’RE CONCERNED THESE TARIFFS
WILL HAVE A NEGATIVE IMPACT
WHILE BRINGING BACK FEWER JOBS
IN OTHER SECTORS.
>> I WANT TO LOOK THAT UP.
TARIFFS ARE TAXES.
SOMEONE ELSE SAID THAT.
I REMEMBER WHO IT WAS.