President Trump’s desire to raise the tariff on aluminum imports by 10 percent could have a crushing impact on the price of beer, leading to a $347 million tax on the beverage industry, according to the Beer Institute.
The trade group warns this new tariff policy could endanger American jobs in the beer industry and possibly force the layoff of about 20,300 workers.
While the president agues tariffs on steel and aluminum imports are good for national and economic security, beer maker MillerCoors disagrees, saying American workers will suffer from this “misguided tariff.”
In recent years, beer giants have turned to aluminum cans due to cost and shipping advantages over bottles.
In a possible negotiating move, President Trump is signaling he will back off his tariff talk, if a “new and fair NAFTA agreement is signed.”