Are there benefits to Trump's tariffs?
Share and Follow


() While some U.S. businesses and consumers are worried about their bottom lines amid President Donald Trump’s trade war with Canada, Mexico and China, other companies and workers are welcoming the implementation of new tariffs.

Anheuser-Busch, which owns Budweiser and Michelob among other beverages, is reportedly thrilled about extra taxes on Mexican and Canadian beers.

Most of Anheuser-Busch’s beers are made in America, so if the prices of imported brews increase, the company could theoretically sell more of its brands.

Chief financial officer Fernando Tennenbaum told Yahoo Finance last month that “any exposure to tariff is very limited.”

Tennenbaum said 99% of what the corporation sells inside the United States is made domestically.

New steel and aluminum tariffs go into effect tomorrow, and some executives are pointing to subsidies and lower labor costs in countries like Canada as to why the tariffs should exist. They believe these tariffs will level the playing field.

America’s largest primary aluminum producer, Century Aluminum, applauded Trump’s initial reinstatement of a 25% tariff on primary aluminum imports in a news release last month.

“President Trump’s decisive action will protect national security and help level the playing field for America’s aluminum workers,” Century Aluminum CEO Jesse Gary said.

“On behalf of our employees, I thank President Trump for putting America first and strengthening the Section 232 tariffs, which will help drive the resurgence of domestic aluminum production.”

Despite concerns about an increase in the price of cars, some are in favor of the initiative.

United Auto Workers Union president Shawn Fain told ABC News that tariffs will benefit his colleagues greatly.

“Tariffs are an attempt to stop the bleeding from the hemorrhaging of jobs in America for the last 33 years,” Fain said, referencing the North American Free Trade Agreement, which began in 1992.

“Tariffs aren’t the end solution, but they are a huge factor in creating, fixing the problem,” he added.

Share and Follow
You May Also Like
Bakery chain loved by A-listers abruptly shutters all locations

Celebrity-Favorite Bakery Chain Unexpectedly Closes All Its Stores

A well-loved bakery chain from California, famously adored by celebrities like Drew…
Woman in Florida Barnes & Noble stabbed to death, police seek motive

Homeless Drifter Claims ‘Fight or Flight’ Response in Fatal Barnes & Noble Christmas Shopper Incident

Authorities revealed Tuesday that the individual accused of the tragic stabbing of…
Missing juvenile found during Flagler County stop, sex offender and teen arrested after pursuit

Flagler County Traffic Stop Leads to Arrest of Teen and Sex Offender; Missing Juvenile Recovered

Footage from body-worn cameras reveals two individuals trying to escape from Flagler…
Is Andy Cohen and Anderson Cooper’s New Year’s Eve Special Streaming on HBO Max?

Will Andy Cohen and Anderson Cooper’s New Year’s Eve Bash Stream on HBO Max? Find Out Here!

Welcoming the new year comes with endless possibilities. Whether you prefer the…
U.S. announces more military actions against ISIS: 'We will not relent'

U.S. Intensifies Efforts Against ISIS, Pledges Unwavering Commitment

On Tuesday, U.S. Central Command revealed that U.S. and allied forces have…
Iranian protesters bring regime to halt as fury soars over cost of living

Iranian Protests Escalate Amid Rising Cost of Living Crisis

In Iran, a wave of protests is challenging the government’s grip as…
Ringing in the new year with a bang? Here's how to use fireworks safely

Start the New Year Safely: Expert Tips for Safe and Spectacular Fireworks Displays

Amidst the ongoing dry spell on the First Coast, fire specialists emphasize…
Anthony Joshua is discharged from hospital on after Nigeria crash

Boxing Star Anthony Joshua Released from Hospital Following Nigeria Traffic Accident

Anthony Joshua was released from the hospital late on New Year’s Eve…