Preisdent Donald Trump announced his intentions to impose a 10 percent tariff on aluminum last week. The Trump administration immediately received backlash from many, including U.S. allies, but now he is facing critiques from the beverage industry. Brewers are arguing that the aluminum tariff could potentially bring a new tax on any beverage in an aluminum can.
The Beer Institute said that the tariff would increase the cost of aluminum and cost jobs throughout the entire beverage supply chain.
The new tariff will bring a new $347.7 million tax on the beverage industry, resulting in over 20,000 jobs to be cut.
Miller Coors took to social media to express its distaste for the tariff.
MillerCoors statement: We are disappointed with President Trump’s announcement of a 10% tariff on aluminum. While we won’t know the details for a week, the Department of Defense recently reported that aluminum does not cause any national security issues. (1/3)— MillerCoors (@MillerCoors) March 1, 2018
Like most brewers, we are selling an increasing amount of our beers in aluminum cans, and this action will cause aluminum prices to rise. It is likely to lead to job losses across the beer industry. (2/3)— MillerCoors (@MillerCoors) March 1, 2018
We buy as much domestic can sheet aluminum as is available, however, there simply isn’t enough supply to satisfy the demands of American beverage makers like us. American workers and American consumers will suffer as a result of— MillerCoors (@MillerCoors) March 1, 2018
this misguided tariff. (3/3)
Prices for aluminum have surged in the U.S. as participants prepare for measures that would increase costs and tighten supplies.
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