New tariffs on steel and aluminum imports go into effect Friday.
Those tariffs could mean higher prices for everyday items brought into the U.S. — like peanut butter and toilet paper.
But the aluminum tariff has some small businesses in Central Virginia concerned:
It will add a 10 percent tax on imports from Canada, Mexico and European Union countries.
This increase will undoubtedly have a trickle-down-effect on the price of drinks that come in a can.
That includes beer — produced right here in Richmond.
Adam Worcester, the Co-Owner of Triple Crossing Beer, knew the tariff was coming.
“We went ahead and ordered a whole truckload of cans which will last us probably about 6-8 months,” Worcester said.
But that doesn’t mean it will hurt any less.
“Canning is a big part of our business,” Worcester said. ‘We think its the best way to enjoy beer to-go.”
Worcester owns Triple Crossing Beer with two of his friends.
They continue to expand in the Richmond-area despite policy that’s out of their hands.
“Its gonna be about a one-cent-per-can increase, so we haven’t talked at all about raising our prices yet,” Worcester said. “It adds up over the course of a year and for a small business like us, those kind of costs are significant.”
Even with the added cost — Worcester says — the canned beer is here to stay.
“I always tell people the best way to drink beer is on draft and draft comes from an aluminum keg. So why not enjoy it in a smaller vessel like an aluminum can,” Worcester said.
Triple Crossing told 8News it just purchased its own canning line as a way to cut production costs in the long-term.
But as the trickle-down-effect happens with these tariffs, Triple Crossing says prices for the beer itself will have to be reconsidered.
Senators Tim Kaine and Mark Warner released this statement, condemning the tariffs:
“President Trump’s decision to impose tariffs on some of our closest allies is threatening the livelihood of Virginia farmers. The European Union, Canada, and Mexico are now starting to retaliate by imposing steep tariffs of their own on many products produced in Virginia, like pork, apples, corn, and grapes. Over the last few months, we have met with Virginia farmers who have stressed the importance of stability. Instead, the President is starting a trade war that will make it harder for them to export their products overseas, and make food, beverages, and other everyday products more expensive here at home. When Virginians go to the store to buy beer or groceries this summer, they’ll likely pay higher prices because of Trump’s actions. We urge the President to reverse course, make it clear to our allies and trade partners that we are honest brokers, and give some peace of mind back to farmers and families in Virginia.”
