A tariff is a tax and taxes are frequently passed on to the consumer, which may not bode well for President Donald Trump.
Or for those who like an occasional cold brew at a good price.
According to the Beer Institute — yes, it really does exist — Trump’s proposal for a 25 percent tariff for steel imports and 10 percent tariff for aluminum imports will result in higher costs for American businesses and will endanger American jobs, Fox News reported.
The institute promotes beer and responsible consumption while advocating for sound public policy and regulation for America’s brewers, importers and industry suppliers. Its President, Jim McGreevy, appeared on “Your World” to say Trump’s plan will cost the industry $347 million.
“Tariffs are taxes. And taxes are job killers and prosperity killers,” McGreevy told host Neil Cavuto.
FACT: 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 economy .https://t.co/am4XMjPVo2 pic.twitter.com/BWTi0IkqvR
— Beer Institute (@beerinstitute) March 2, 2018
President Trump is holding firm on his plan for the moment, but McGreevy said he’s hopeful the industry’s concerns will strike a nerve.
“We’re willing to work with the president and the administration,” he said. “We’ve made our point of view well-known to them, and we hope over the next few days before this decision is finalized that they’ll take a different course.”
As do beer drinkers who can see the cost of a brew inching upwards.
“The beer industry and others are ready to be part of the solution here, but we don’t think this solution as proposed is the right one,” McGreevy added.
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