Tariffs Will Impact Beer Prices in US: Bill Butcher

President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world. Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam. “For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.” The Founder of Port City Brewing says it's thrown the supply chain into chaos.
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[BenGonzalez-sl]

The Smoot-Hawley Tariff Act of 1930 also raised tariffs on all America's trading partners to shield U.S. industries from foreign competition. As a result, U.S. exports plummeted as many countries retaliated with tariffs of their own, leading to a sharp decline in global trade with the reduction of American imports and exports by 67%. Economists and historians widely regard the Smoot-Hawley Tariff act as the U.S. policy misstep that escalated the global economic crisis of the 1930s into a Great Depression!

[reardelt]

These tariffs are not permanent. They will be in place until other countries reduce their tariffs to 0%. They will have to reduce their tariffs because their economy depends on American consumers buying their stuff