After leading the president into a batshit announcement of tariffs on steel and aluminum, unhinged trade economist and meth-head cosplayer Pete Navarro went on Fox Business to justify said tariffs and act super-aggravated that the market has yet to process his and President Trump's genius.
And in pursuit of that goal, the always-prone-to-rage Navarro took a shot at the globalist Wall Street Journal, got thirsty to confront Maria Bartiromo's co-host, and then attempted to make people understand how these tariffs will have no impact on anyone (which, why do them?) by using a literal "Joe Six-Pack" case study to prove his point:
That's Pete Navarro saying that the price of a six-pack of beer will increase by one cent. To her credit, Bartiromo attempted to get Navarro to admit that he was just guessing and not using data, but this is Pete Navarro, so the idea of objective truth was never really "in play."
But there is one group that really does care about taking a deep look at the price of a six-pack of beer; the people who make and sell six-packs of beer. And guess what? They also think Pete Navarro is full of shit.
Here's a statement from the Beer Institute, the beer industry's lobbyist:
Aluminum is critical to the well-being of America’s beer industry as more than half of the beer produced annually is packed in aluminum cans or aluminum bottles. President Trump’s announcement today that he plans to impose a 10% tariff on aluminum imports will increase the cost of aluminum in the United States and endanger American jobs in the beer industry and throughout the supply chain.
According to third-party analyses, this 10% tariff will create a new $347.7 million tax on America’s beverage industry, including brewers and beer importers, and result in the loss of 20,291 American jobs. We appreciate the many members of Congress—both Republicans and Democrats—as well members of the cabinet who spoke out against imposing this tariff, many of whom specifically cited their concerns for how this tariff would negatively impact America’s beer industry.
One day, Peter Navarro might finally conquer in his campaign against objective reality, but - while he had a particularly strong week - today was not that day.