As U.S. steel and aluminum executives applauded President Donald Trump’s announcement of new efforts to support American producers of the materials, companies and industries that rely on steel and aluminum to make their products prepared for more expensive futures.
Carlos Brito, chief executive of A-B InBev, the parent company of St. Louis-based Anheuser-Busch, cautioned of job cuts and higher prices for consumers due to higher costs of aluminum, which is used in about half of U.S. beer cans and bottles.
Matt Blunt, the former Missouri governor who now runs the National Automotive Policy Council, previously issued a statement warning against “unintended consequences” of trade policy that could hurt U.S. automakers.
Tariffs or quotas are expected to increase the price steel and aluminum in the U.S., harming businesses like automakers, appliance manufacturers and toolmakers. Those industries employ an estimated 6.5 million Americans. The steel industry, by comparison, employs 80,000.
Read more: St. Louis Post-Dispatch