Beer industry suffer from Trump’s aluminum tariffs: Molson Coors
X
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Beer industry to suffer from Trump’s aluminium tariffs: Molson Coors

6:59 AM, 6th March 2018
Beer industry to suffer from Trump’s aluminum tariffs: Molson Coors

WASHINGTON DC, US: US President Donald Trump’s plan to impose a 10 percent tariff on imported aluminium could lead to job losses across the beer industry, warned Molson Coors, a multinational brewing company in US.

The company called this move "disappointing" and "misguided."

"Like most brewers, we are selling an increasing amount of our beers in aluminium cans and this action will cause aluminium prices to rise and is likely to lead to job losses across the beer industry," the firm said in a statement.

One of the world's largest brewers by volume, Molson Coors said it purchases as much domestic can sheet aluminium as possible but cautioned that "there simply isn't enough supply to satisfy the demands of American beverage makers."

"The Department of Defense recently reported that aluminium does not cause any national security issues," the firm noted.

While it remains to be seen if beer makers will increase prices as a result of higher aluminium costs, Molson Coors said that US consumers would surely suffer.

© CNBC

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Shell's fourth linear alpha olefins unit on track for late 2018 startup

HOUSTON, US: Shell Chemical LP (Shell) announced a good progress on the main construction of its fourth linear alpha olefins (AO) unit at its chemical ...

Read more
Nicca Chemical, Resil to jointly market textile chemicals

FUKUI CITY, JAPAN: Japanese speciality chemical company Nicca Chemical Co Ltd (Japan) said they have signed a long-term, business alliance agreement w ...

Read more
Wison Engineering bags largest modularization project in US

SHANGHAI, CHINA: Wison Petrochemicals (NA) LLC has been awarded a construction contract, for the modularization of the design and supply processes, bu ...

Read more
BASF in talks to buy Bayer's vegetable seeds business: Sources

FRANKFURT, GERMANY/LONDON, UK: BASF SE is in talks with Bayer AG to buy its vegetable seeds business, which is valued at around 1.5 billion euros ($1. ...

Read more
Trinseo to increase prices for polystyrene in Europe

HORGEN, SWITZERLAND: Trinseo announced price increases for all polystyrene (PS), acrylonitrile butadiene styrene (ABS) and styrene-acrylonitrile resin ...

Read more
Covestro to launch Made in India sustainable polyurethane products

MUMBAI, INDIA: Covestro India said that it will present a range of smart and sustainable polyurethane (PU) materials for the const ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X