Coke Industries, United States, Msnbc discussed on Here & Now
I'm Robin young. It's here. And now a new study commissioned by coke industries suggests that President Trump's tariffs could cost American families two thousand four hundred dollars next year in the form of higher prices, lower wages lost jobs, lower returns on investments more. Let's bring analogy olive she MSNBC anchor and economics correspondent and co host aversion rule. Halley I Robin this week. We heard about GM idling five plants as saying the tariffs cost them one billion dollars before that the company said tariffs could lead to job losses. Are these plant closings the kind of thing? This new study is talking about well sort of General Motors has had problems for a long time. And that's a leadership problem at GM that there's probably something to do with trade and tariffs that are involved in this. But this study is a lot broader, and it talks about the kinds of things that will be that will cost people money or stop them from making. Money. If these terrorists if this trade war stays in place that consumers have been mostly insulated from these costs. Let's take a look the study says each household could pay two thousand four hundred more or nine hundred fifteen dollars per person. How do they what do they mean how they arrive at that? Well, there are a few things that they are looking at their look at the look at the commute the cumulative impact of tariffs. So the added cost of things that you buy because we buy a lot of imported stuff. The added cost of things that you buy that is not imported, but it costs more to make in the United States lower wages because of jobs that will be lost. As a result of the tariffs and a lower return on investment. You can see how the trade war has affected the stock market. So that they've calculated all of those costs and say that you're going to end up with the household. The average household will end up with twenty four hundred dollars more in the short term. Yeah. But then they lose right? Yes. So look this was commissioned by coke industries as we said, this is the coke family's private company, the largest in the US after Cargill annual revenue of one hundred and fifteen billion very much anti the Trump tariffs. So what do you say to someone who says it skewed because the cokes Abbas stake in this? Yes. So that's a good question, by the way, when I met twenty four hundred less your people are going to pay, but it, but as it goes further out, they say that houses will lose much more. Look, you gotta take it with a pinch of salt. It's a study. It's a it's a projection the coke brothers do not like higher taxes, and they do not like tariffs. A lot of people who don't like higher taxes. Equate tariffs with those the cokes are major industrialists. So this hurts them that said, they show you the long homework. These things all get taken with a pinch of salt. But there's no question that there will be added costs to goods if we're trading less wages are higher. In the United States that we're buying things that are made here as opposed to made in China, or the Philippines or Vietnam. It's going to be more expensive the other side of the equation is a little harder to tell will we have lower wages as a result, the president thinks the opposite. And will we have lower returns in the stock market as a result? I could argue that the stock market might be slowing now just because it's been expanding for ten years. So half of it. I can justify the other half we'd have to wait and see. Yeah. But we don't want you to guess right now. So they say two thousand four hundred good just your best. Guess what what it might be? Well, what's happening is in the initial period. We're seeing a lot of companies trying to hold off increases on costs that will change over time. So it may feel like less than that in the first year. It's gonna feel like a lot more than that as long as tariffs. Stay in place. MSNBC anchor economics correspondent and co host and rule alley. Thank you. My pleasure. We'll wait and see. You're listening to here. Now..