That beer after work could soon cost more
With the proposed tariffs on steel and aluminum, things contained in aluminum cans could cost more for consumers because the additional costs can manufacturers will take in will be passed on.
"Domestic producers of steel would make more money, while domestic consumers of steel would make less money,” said Steve DuBuc, a director at consulting firm AlixPartners' automotive and industrial practice, noting that U.S. steel makers will“have increased pricing power” as steel imports become more expensive.
And because most aluminum is imported, costs would rise.
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Polaris Industries Inc ( ), a manufacturer of snowmobiles, off-road vehicles and motorcycles, spends more than $300 million annually on steel and aluminum. Chief Executive Officer Scott Wine said tariffs would raise its costs around 1 percent, which is“quite manageable.”
â€‹But he said Polaris would then have to“mitigate the inevitable price increases from our domestic steel suppliers.”