WASHINGTON, Oct. 27, 2022 (GLOBE NEWSWIRE) — Nearly 4 and a half years since the Section 232 tariffs on aluminum took impact, the U.S. beverage trade alone has paid greater than $1.7 billion in tariffs. Brewers and beverage producers pay the next value for aluminum as a result of rolling mills and smelters embrace tariffs of their costs — no matter whether or not the steel is topic to Section 232 tariffs. Paying a tariff-laden value on all aluminum drives up the price of doing business and makes client items dearer.
“From the grocery store to the gas pump, American families are feeling inflation pressure in every aspect of life. These new numbers show that Section 232 tariffs continue to raise production costs and drive up consumer prices,” mentioned Beer Institute Director of Public Affairs Alex Davidson. “As the CEOs of some our nation’s largest beer suppliers recently said in a letter to President Biden, ‘tariffs reverberate throughout the supply chain, raising production costs for aluminum end-users and ultimately impacting consumer prices.’ It’s time for the Administration to provide Section 232 aluminum tariff relief.”
The analysis performed on behalf of the Beer Institute by HARBOR Aluminum, an impartial authority on the aluminum trade and its markets, discovered that between the implementation of Section 232 aluminum tariffs on March 23, 2018, and August 31, 2022, the U.S. beverage trade paid $1.714 billion in Section 232 tariffs on 8.203 million metric tons of aluminum. Of that quantity, solely $120 million (7 p.c) went to the U.S. Treasury. HARBOR Aluminum estimates U.S. rolling mills, U.S. smelters and Canadian smelters acquired $1.594 billion (93 p.c) of the complete by charging end-users – akin to U.S. brewers – a tariff-burdened value no matter whether or not the steel was meant to be tariffed based mostly on its content material or origin.
There are greater than 13,300 permitted breweries in the United States, supporting greater than two million American jobs. Imported major aluminum and cansheet are important to the U.S. beer trade as greater than 74 p.c of all beer produced in the United States is packaged in aluminum cans and bottles. In 2020, brewers purchased greater than 41 billion aluminum cans and bottles, making aluminum the single largest enter price in American beer manufacturing.
###
The Beer Institute is a nationwide commerce affiliation for the American brewing trade, representing brewers of all sizes, in addition to beer importers and trade suppliers—an trade that helps greater than 2 million jobs and gives greater than $331 billion to the American economy. First based in 1862 as the U.S. Brewers Association, the Beer Institute is dedicated in the present day to the growth of sound public coverage and to the values of civic responsibility and private duty. For further updates from the Beer Institute, go to our web site, comply with @BeerInstitute on Twitter, like the Beer Institute on Facebook, and comply with the Beer Institute on Instagram.
