On Thursday, President Donald Trump announced his administration plans on imposing a 25 percent tariff on steel imports and a 10 percent tariff on aluminum. The latest announcement took many local breweries by surprise.
“I thought, ‘Oh my gosh this is going to cost me a lot of money,'” said founder of Pikes Peak Brewery, Chris Wright.
For six and a half years, Pikes Peak Brewery has been open-brewing their own beer, as well as canning and selling their goods internationally.
Wright says his brewery goes through a million aluminum cans a year, costing him 10 cents a can. A 10 percent tariff will cost Wright’s business an additional $10,000 a year, hurting him, and you, if you’re planning on cracking a cold one.
“We can either chose to pass that on to our consumer and that’s what a lot of folks will do, or it’ll impact our bottom line and not allow us to re-invest in the company, re-invest in hiring people, buying equipment or expanding,” said Wright.
However, this new proposal goes beyond sipping a good brew, as costs for other canned goods and car products could spike.
“Everyone is impacted,” said Wright. “This is more, I think, going to impact U.S. economy overall, worse than it would be benefiting the U.S. steel manufactures.”
The government plans to release further details next week. Until then, Wright is hoping the President will change his mind.
“Hopefully, the President will reconsider, he’s done a lot of great stuff for small businesses and brewers this year, but this is definitely not one of them,” said Wright.