Amid the Trump trade war with Canada, Mexico and China, some US businesses and consumers are worried about their revenues, while others and workers are welcoming the implementation of new tariffs.
Anhauser Bush, who owns Budweiser and Michelob among other drinks, is reportedly excited by the additional tax on Mexican and Canadian beer.
Since most of Anheuser-Busch's beer is made in the United States, the company could theoretically sell more brands if the prices of imported brews rise.
Chief Financial Officer Fernando Tenenbaum said Yahoo Finance Last month, “there is very limited exposure to tariffs.” He added that 99% of what companies sell in the US are made domestically.
New steel and aluminum tariffs will come into effect tomorrow, with some executives pointing to subsidies and cuts in countries like Canada, and whether tariffs exist. They believe these additional taxes will level the arena.
Century Aluminum, America's largest major aluminum producer, praised Trump's early reinstatement for his revival against the import of first aluminium against a 25% tariff. News Release last month.
“President Trump's decisive action will protect national security and help level the arena for American aluminum workers,” said Jesse Gary, CEO of Century Aluminum.
“On behalf of our employees, we would like to thank President Trump for putting America first and for strengthening the tariffs on Section 232. This will help to promote a revival of domestic aluminum production.”
Despite concerns about rising car prices, some are in favor of the initiative.
United Autoworker Union President Sean Fain told ABC News That tariff will bring great benefits to his colleagues.
“The tariffs are an attempt to stop bleeding from bleeding in American employment over the past 33 years,” Fein said, referring to the North American Free Trade Agreement, which began in 1992.
“Taxes are not the final solution, but they are a big factor in creating and solving the problem,” he added.
