Beer Industry to Suffer from Trump’s Aluminium Tariffs: Molson Coors
US President Donald Trump’s plan to impose a 10 percent tariff on imported aluminium could lead to job losses across the beer industry, warned Molson Coors, a multinational brewing company in US.
The company called this move "disappointing" and "misguided."
"Like most brewers, we are selling an increasing amount of our beers in aluminium cans and this action will cause aluminium prices to rise and is likely to lead to job losses across the beer industry," the firm said in a statement.
One of the world's largest brewers by volume, Molson Coors said it purchases as much domestic can sheet aluminium as possible but cautioned that "there simply isn't enough supply to satisfy the demands of American beverage makers."
"The Department of Defense recently reported that aluminium does not cause any national security issues," the firm noted.
While it remains to be seen if beer makers will increase prices as a result of higher aluminium costs, Molson Coors said that US consumers would surely suffer.
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