Wow, of all the things to worry about, add this to the list.
Earlier it was reported that an aluminum can would cost an additional 0.6 cent, slightly more than half a penny per can, if President Trump follows through on his steel and aluminum tariffs.
A case of beer (four six packs) would cost an additional (24 x 0.6 cent =) 15 cents.
It should be noted that 8% sales tax on a case of beer runs about $3.20.
And so we get this headline story in Time that a tariff on aluminum is going to increase the price of beer. LOL.
But it's not just beer.
From the article:
If the tariff includes finished goods, Apple’s Mac and iPhone costs could go up by as much as 0.2 percent, assuming the tax is a percentage of the metal components of Macs and iPhones, Munster said. Apple declined to comment.For a MacBook: $4 more for a $2,000 laptop. Tax on a $2,000 laptop would add $160.
For a $1,000 iPhone X, an additional $2.00. The tax would be $80.
But what really has people frightened is how much more Life Savers might cost. Apparently it's such a concern that, according to Time:
Hershey Co. and Mars Inc., which makes aluminum-wrapped Life Savers, didn’t immediately respond to requests for comment.I assume the Trump tariff would also be the kiss of death for aluminum-wrapped Hershey Kisses.
I can think of a gazillion reasons pro and con regarding tariffs on aluminum and steel: the cost added to a can of beer or to a roll of Life Savers is not one of them (either a pro or a con).
However, I am going to stock up on Life Savers if the Republicans can't talk President Trump out of these tariffs. My hunch: President Trump will exempt aluminum used to wrap Life Savers. Once President Trump signs the executive order, we probably have six months to buy Hershey Kisses and Life Savers before the price goes up.
A huge "thank you" for Don for spotting this article. I would have missed it.