Colo. Beer Costs May Rise, Thanks To Proposed Aluminum Tariffs

GOLDEN, CO – One of Donald Trump's new proposed tariffs on metal could kick Colorado beer lovers right in the can. Proposed new import taxes on aluminum will add cost to a brew, Pete Coors, chairman of Golden-based Molson Coors Brewing Company said.

The company is one of the biggest aluminum users in the world and their can plant generates 13 million cans per day.

"I love what the president's done in most cases, but the tariff is basically a tax on people who use aluminum," Coors, a Republican, said in an interview with CNN. Coors, a former GOP candidate for Governor, has been an outspoken Colorado Trump supporter and fundraiser.

Uncertainty caused by Trump's tariff proposals has already bumped up one cost associated with storing and transporting aluminum.

"An American industry surcharge called the 'Midwest premium' – an added cost that accounts for shipping aluminum to Midwest cities and storing it there – spiked close to 140 percent," the news station reported.

Extra cost will be passed through to beer consumers, most of whom earn $50,000 or less per year, CNN reported.

"You could definitely make the argument that imposing these types of tariffs is going to hurt exactly the types of people you claim to want to be helping," said Philip Luck, an economist at the University of Colorado Denver told the news agency.

Read the CNN story here.

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