President Trump has hit on an idea less appealing than warm beer on a hot day.
On March 1, he announced his intentions to impose tariffs on imported aluminum and steel. That policy went into effect two weeks ago — impacting some of America's most strategic trading partners, and, yes, the American beer industry.
The measures, which include a 10 percent tariff on aluminum and 25 percent tariff on steel, are an attack on free trade and will impact domestic businesses and their customers. Trump claims that establishing these trade penalties will rejuvenate what have been traditional American industries because erecting barriers to foreign products will force increased use of American made materials. But however hard the president wills it to be, his reasoning flies in the face of basic economics and even common sense.
Read Full Article »