Proposed tariff could cause price of canned beer to spike
INDIANAPOLIS, Ind. – Your favorite can of ice cold beer could soon cost you more money.
The potential price hikes follow a proposal by President Trump. The proposal would add a ten percent tariff on imported aluminum and breweries rely on that metal to can their beer.
A price hike in the packaging could hit local breweries like Sun King hard.
“We do not use any glass, just cans,” said co-owner and head brewer of Sun King Brewery Dave Colt.
Just last year, Sun King packaged seven million cans. Add in a higher price per can and Hoosier beer drinkers could end up paying more for their favorite brew.
“If the price of aluminum goes up it means the price of cans goes up and that means the price of beer is going to go up,” said Colt.
Mega beer distributors like Miller-Coors are pushing back against Trump’s decision. The company slammed the tariff on Twitter saying American workers and consumers will suffer from the increase in price.
The Beer Institute which represents around the beer industry says the tariff would be a $347 million annual tax on brewers and beer importers and could cost around 20,000 jobs.
“The smaller the producer the more intense the effect. So small startup businesses in our area are going to be hit the hardest. We are going to be hit pretty with it depending on how the numbers shake out…which we do not know yet,” said Colt.
Right now, Sun King is working with their local aluminum distributor to find out how much their prices may go up.