U.S. Beer Industry Blames Trump Tariffs for 40,000 Job Losses
[Yahoo] The U.S. beer industry is blaming a jobs hangover on the Trump administration’s tariffs.
A report by two trade groups showed U.S. beer-industry jobs dropped 40,000 since 2016 as metal tariffs boosted aluminum-can costs, leading to a drop in investment. The biennial study by the Beer Institute and National Beer Wholesalers Association said direct, indirect and induced jobs fell to 2.19 million in 2018 from 2.23 million in 2016.
The shipping and logistics charge for delivering aluminum to the U.S. Midwest, known as the “premium,” more than doubled as Trump slapped a 10% tariff on imports of the metal. Molson Coors Brewing Co. estimated last year that the levies would create a $40 million hit to its bottom line.
Still, tariffs may not be the only thing hurting employment in the industry. Total cases of beer, wine and spirits consumed in the U.S. dropped 0.8% in 2018, the third consecutive year of declined, according to a report from IWSR, which studies the beverage market. The main culprit is the beer slump, with consumption down 1.5% as more drinkers gravitated to spirits and wine.
Posted by: Skidmark 2019-05-25