RICHMOND, Va. (WWBT)—President Trump has made another big move by imposing a 25% tariff on aluminum and steel in all countries.
“So when it’s these types of disruptions that happen to the supply chain in general, it just puts pressures in a lot of places that impact your ability to predictably do business,” said co-owner of Bingo Beer Co. Jay Bayer.
From inside a cooler at his brewery, Bayer says the news of the tariff increase disappointed him. Bayer works with several suppliers to get its aluminum cans, so increased costs will strain its purchases.
“Maybe not immediate impact but definitely down the road,” Bayer said. “It’s going to make six packs of Bingo Lager more expensive.”
That cost will eventually trickle down to his customers.
“It’s not our hope to have prices go higher; we try to set fair and reasonable prices for our beers,” said Bayer.
Other Richmond businesses, like bike shops, foresee impacts from this tariff hike.
“It’s one thing to absorb you know like a smaller tariff but a big tariff we have to increase the prices of that extra cost which means the cost of the bikes goes up.” Shane Cusick, Co-Owner of Pello Bikes, said.
Outraged by the tariff boost, Senator Mark Warner wrote in a statement:
“Let’s be clear, today’s action by the Trump administration to levy a 25 percent tax on the importation of all steel and aluminum into the U.S. will jack up costs for consumers and small businesses across the Commonwealth and the nation. These tariffs will significantly increase input costs for small businesses, put homeownership further out of reach for Virginians, and threaten good-paying manufacturing jobs across America. They will also endanger the Commonwealth’s greatest economic engine – the Port of Virginia – by targeting commerce and potentially threatening activity at the port. Americans don’t want a reckless and misguided trade war. I’m going to keep working to lower prices for families and fighting to ensure we don’t turn our back on our allies.”
Canada and Europe are now retaliating against these imposed tariffs, imposing increased taxes on goods coming in from the U.S. The taxes are expected to take effect Thursday.
Copyright 2025 WWBT. All rights reserved.