Tariffs and the Price of Your Beer

null By The Editorial BoardDec. 4, 2023 6:40 pm ETThe economic boost from the "Eras' tour, her ability to bring joy to fan's lives, and her fairytale romance with Travis Kelce are some of the reasons that Taylor Swift is the best thing to happen in America this year. Images: AP Composite: Mark KellyPresident Trump ostensibly waged trade wars to aid American industry, but the evidence is that his tariffs have harmed many U.S. businesses not on his politically favored list. One example is the beverage industry, which has had to swallow the cost of tariffs on aluminum for its cans.New data from Harbor Aluminum, produced for the Beer Institute, shows how these costs have continued to climb. Mr. Trump imposed 10% tariffs on aluminum imports in March 2018, citing dubious national-security concerns. Through September 2023, the U.S. beverage industry paid nearly $2.2 billion in tariff costs, according to the report. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe85681