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Is growing. >> and you said shale is bigger than steel, right? and so the tariffs won't really make a difference. >> at this moment. but, you know, there is -- there is a lot of nostalgic association with steel. so people my age, or people my children's age, adult children, they never worked in a steel mill. and i never worked in a steel mill. but there is still the cultural association. so it is something that people wrap their arms around. >> but explain the significance. >> despite there not being that many jobs there. >> talk to me about the shale industry being bigger there. >> well shale...

And so the tariffs won't really make a difference. >> at this moment. but, you know, there is -- there is a lot of nostalgic association with steel. so people my age, or people my children's age, adult children, they never worked in a steel mill. and i never worked in a steel mill. but there is still the cultural association. so it is something that people wrap their arms around. >> but explain the significance. >> despite there not being that many jobs there. >> talk to me about the shale industry being bigger there. >> well shale is the growth industry around there. and not exactly in that d...

Competition to capture somewhat additional volume. these industries are operating at very low percentages of capacity. so there's going to be fierce competition to get that volume and i think that's the best free market solution to why the tariffs won't be fully passed on. >> trish: we'll be watching all of it. thank you very much. good to see you. >> good to see you, trish. >> trish: we'll get reaction now from gop senator from wyoming, john varasso. all right, senator. your response. >> trish, i'm more of a free trader. i have worry about retaliation about our products. certainly we have a...

Reversal during campaign trail said. and we are hearing things like anthony had scar moochy, one of the transition advisers, has given an interview talking about how tariffs won't be imposed, or only as a last ditch measure. we're getting little bits and pieces from trump advisers that they are coming together. creating ideas. i know the transition team has plan written up. whether trump goes with that plan is still up in the air. they are doing this subterranean effort of really plotting policy. getting ready to go. er the executive orders ready to go for the first couple days. >> margaret, w...

Shipulating their exports to us cheaper than our imports to them. so people who have been involved in tradeable good business for years recognize that. the problem is and the two of you were just getting at that, these tariffs won't have that impact. these tariffs will hurt many more americans they are going to help. i feel great sympathy for the folks that were talking about the possibility that maybe this will help because at least as far as i and every other economist sees this down the road, this isn't the way to go about it. it is a misguided strategy. it will lead to higher prices, slowe...