Corporate America hates aluminum-tariff proposal

[struggle4progress]

By Jennifer Kaplan
March 2, 2018, 1:20 PM EST
Updated on March 2, 2018, 4:35 PM EST

... While the policy would hit the auto and aerospace industries hardest, it would also have ramifications for a wide range of businesses -- and products that Americans purchase daily. Beer, soft drinks, candy, canned soup and even pharmaceuticals rely on aluminum for packaging. Electronics, such as Apple Inc.’s iPhone, also use the metals.

That’s led companies such as Anheuser-Busch InBev NV, General Motors Co. and Campbell Soup Co. to weigh in on Trump’s proposal, which would slap tariffs of 25 percent on imported steel and 10 percent on aluminum for "a long period of time" ...

Campbell Soup warned that the taxes would raise price tags on items shoppers depend on: tin-plate steel cans. "Any new broad based tariffs on imported tin-plate steel -- an insufficient amount of which is produced in the U.S. -- will result in higher prices on one of the safest and more affordable parts of the food supply," spokeswoman Nicky Thomson said ...

Depending on how a tariff is imposed, it could also hit iPhones, laptops and other tech products ...

https://www.bloomberg.com/news/articles/2018-03-02/corporate-america-really-hates-trump-s-aluminum-tariff-proposal

[Sherman A1]

1. It will ripple across the economy just as any increased cost will.

The increases for Pepsi, Coke, Dr. Pepper or A-B Inbev will actually be only a tiny fraction of a penny on the cans, but you can bet that they will find a means to jack prices on their goods to "offset" this tariff. This essentially will be a hidden tax on American Consumers even if we don't end up in a trade war which will then create an even bigger mess and potentially a recession or worse.

[democratisphere]

2. drumpf gave US a taxcut to pay for his tariffs.

How does it feel to be CONNED again!

[Demsrule86]

3. Autos are doing pretty well and this will cause havoc and benefit the Chinese, Koreans and Japanese

and German automakers...if you want a tariff on steel, it needs to be applied to any car or product sold here that uses foreign steel in order not to cripple autos. and other American made products. Trump is dumb and dumber. Probably this helps very few low wage workers as steel pays shit these days and hurts those making a decent wage.