LAFAYETTE, Ind. (WLFI) — You may have to start paying more for a can of beer. Experts said President Trump’s announcement of steel and aluminum tariffs will impact people.
There are still a lot of questions about who this will impact the most.
Owner of People’s Brewery in Lafayette, Chris Johnson said the brewery is transitioning to cans because it is a better way for beer to be stored.
“We are heading in a direction where cans are more and more important all the time,” Johnson said.
Purdue professor and economist, Anson Soderbery said prices will go up.
“The price of steel and aluminum is going to go up with aluminum and steel tariffs,” said Soderbery.
He said the biggest question is who will be affected the most.
“Are they going to raise prices of their goods to consumers, that affects demand that hurts consumers or do they absorb that increase in price, don’t raise prices but that affects their profits,” said Soderbery.
There are still a lot of questions, but Soderbery knows one thing for certain.
“It’s going up, right? My beer is going to get more expensive and there is no way around it,” said Soderbery.
By how much, depends on who along the supply chain is willing to cover the cost.
Johnson hopes it won’t be an issue.
“Hopefully we can absorb that for a while and keep the beer the same for customers but at the end of the day we’ve got to be able to pay our people and pay our bills,” said Johnson.
For now he said it will just be a waiting game.