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MillerCoors Beer Rips Trump’s Aluminum Tariffs: American Workers, Consumers Will Suffer


MillerCoors Beer Rips Trump’s Aluminum Tariffs: American Workers, Consumers Will Suffer

MillerCoors, the beer giant behind Miller Lite, Coors Light, Miller High Life, is speaking out against President Trump’s decision to raise tariffs on aluminum, warning that “American workers and American consumers will suffer” over the move.

“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,” the company said in a statement on Twitter on Thursday.

“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 this misguided tariff,” the company said.

It is still unclear if beer companies will decide to raise beer prices over the new tariffs.

The Dow dropped more than 500 points on Thursday afternoon following Trump’s announcement that his administration was imposing a 25 percent tariff on imported steel and 15 percent on aluminum.

“We’ll be signing it next week. And you’ll have protection for a long time in a while,” Trump said.

“You’ll have to regrow your industries, that’s all I’m asking.”

Trump’s controversial decision to impose tariffs is expected to bring a strong backlash from global U.S. trading partners such as China, with some Republicans already pushing back on the move.

“It would be very bad for consumers, it would raise costs for all kinds of products, it would destroy more jobs than it saves in steel, and it would invite retaliation from other countries,” Sen. Pat Toomey (R-Pa) said Thursday.

“Tariffs are taxes paid by American businesses and American families, and new tariffs would jeopardize some of the opportunities we successfully created through tax reform,” Senate Finance Committee Chairman Orrin Hatch (R-Utah) said earlier this week.

“This is the first shot across the bow over a trade war,” said Art Hogan, chief market strategist at B. Riley FBR. “And nobody wins a trade war.”

One beer industry group, the Beer Institute, warned that Trump’s tariffs “will increase the cost of aluminum in the United States and endanger American jobs in the beer industry and throughout the supply chain.”

The group cited an analysis by economic consulting firm John Dunham & Associates, which said the tariff could cause the industry to lose more than 20,000 jobs, according to CNN.


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