From soft drinks and beer to aerosols and shelf-stable soups, many everyday grocery items sold in steel and aluminum cans could be in store for a price hike.
President Trump announced this month that he planned to impose a 25% tariff on all imported steel and aluminum in a bid to boost American producers by cracking down on foreign competition.
But food and beverage industry experts warn that driving up the cost of imported steel and aluminum could make it more expensive to manufacture cans in the U.S. — a price increase that will ultimately be passed on to consumers.
Ken Henricks, owner and president of Alter Brewing Co. in suburban Chicago, said the increasing cost of cans could hurt the craft beer sector at a time of rising inflation and growing competition from large beer companies.
"We just don't have any more room to give without raising pricing. And if we raise price, I know that with people's buying power being less today, our volumes will decrease," he said. "We're really at a tough spot."
