MillerCoors slams Trump aluminum tariffs: American workers, consumers will suffer

MillerCoors slams Trump aluminum tariffs: American workers, consumers will suffer
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Beer brewing company MillerCoors came out against President TrumpDonald John TrumpTrump threatens ex-intel official's clearance, citing comments on CNN Protesters topple Confederate monument on UNC campus Man wanted for threatening to shoot Trump spotted in Maryland MORE’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.

The brewer said it purchases as much aluminum domestically as it can, but that “there simply isn’t enough supply to satisfy the demands of American beverage makers like us.”

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“American workers and American consumers will suffer as a result of this misguided tariff,” the company said. 

It’s unclear if beer companies will decide to raise beer prices over the tariffs. A MillerCoors spokesman declined to comment to The Hill beyond the publicly available statement. Pabst Brewing Company and Anheuser-Busch did not immediately return a request for comment by The Hill.

Trump had announced earlier Thursday that he would be imposing a 10 percent tariff on imported aluminum, as well as a 25 percent tariff on imported steel.

“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,” he added. 

One beer industry group, the Beer Institute, slammed Trump's announcement, saying it “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.

However, CNN also reported that manufacturing advocates argued that price increases would be minimal because the decision would lead to more aluminum production in the U.S.

The groups also called the beer companies hypocritical over their complaints, saying they didn’t lower their prices in stores when aluminum prices dropped by more than a quarter a few years ago.

Trump’s decision to impose the tariffs was quickly met with backlash from some industry executives and GOP lawmakers, including Speaker Paul RyanPaul Davis RyanKrystal Ball: GOP tax cut is 'opiate of the massively privileged' Top GOP lawmaker: Tax cuts will lower projected deficit GOP super PAC seizes on Ellison abuse allegations in ads targeting Dems MORE (R-Wis.).

“The Speaker is hoping the president will consider the unintended consequences of this idea and look at other approaches before moving forward," Ryan spokesman Doug Andres said Thursday. 

The Dow Jones industrial average plummeted by more than 500 points after the announcement, rebounding a little to close 420 points down.