Campbell Soup Company just slapped down Commerce Secretary Wilbur Ross‘s bizarre “soup can defense” of Trump’s proposed tariffs on imported metals.
Ross spent his morning stumping for the president’s new steel and aluminum taxes on Fox Business and CNBC, claiming they were “no big deal” and wouldn’t noticeably alter prices for the American consumer.
Here's U.S. Commerce Secretary Wilbur Ross using cans of soup, beer, and soda to defend steel and aluminum tariffs. pic.twitter.com/XJWw8MoRGo
— CNBC (@CNBC) March 2, 2018
“In a can of Campbell’s Soup, there are about 2.6 pennies worth of steel. So if that goes up by 25 percent, that’s about six-tenths of 1 cent on the price on a can of Campbell’s soup,” Ross explained to CNBC.
The already shaky defense further unraveled as he produced an actual can of Campbell’s soup and declared, “I just bought this can today at a 7-Eleven … and it [was] priced at a $1.99. Who in the world is going to be too bothered?”
Campbell Soup eventually noticed their iconic can’s appearance in Ross’s bizarre justification and quickly made a point to clear the air.
A spokesperson for the food conglomerate told CNBC, “any new broad-based tariffs on imported tin plate steel — an insufficient amount of which is produced in the U.S. — will result in higher prices on one of the safest and more affordable parts of the food supply.”
The soup company has recently grappled with decreased sales as well as increased pressure from the likes of Amazon and Wal-Mart to lower prices in response to customer demands. Trump’s new tariffs, which are a supposed extension of his “America First” campaign promise, will actually hurt the Camden, NJ based company.
As usual, President Deal’s impulsive approach to domestic policy is hurting the American workforce – and this particular #MAGA policy has the added bonus of aggravating our allies and stoking the flames of a trade war likely to sink the economy faster than Campbell’s Soup sank Wilbur Ross’s 7-11 shopping trip.