US Winemakers Among Latest To Feel Squeeze Of Trade Tariffs

As if the news of US-imposed tariffs on imported steel and aluminum didn’t upset a large enough portion of beverage manufacturers already, the most recent developments in US-China trade have left winemakers, along with US-based manufacturers of 127 other products, with a sour taste in their mouths.

Earlier this year, the White House sought to enact tariffs on countries it had described as taking advantage of the US trade policy for some time. In an effort to revitalize US-based metals manufacturing, the order to formally enact tariffs on steel and aluminum imports, as high as 25 percent and 10 percent respectively, was signed last month.

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How Proposed Metal Tariffs Will Affect US Metals Production, Robots, And The Price Of Beer

New tariffs on foreign materials are likely going to affect industries that employ millions of Americans. Beverage and robotics manufacturing are just two of the affected industries, but these two will be among the segment most heavily affected by the new tariffs on imported building materials. The tariffs recommended by the U.S. Commerce Department apply to aluminum and steel imported to the US from abroad. The tariffs reach as high as 53%, which could pose a big problem for industries relying on these essential metals for manufacturing purposes.

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New Tax Cuts For Brewers, Distillers, And Vintners Paves The Way For Expansion

For those unfamiliar with the Craft Beverage Modernization and Tax Reform Act, the recently passed tax reform applying to alcoholic beverage manufacturers, the short of it is that the legislation offers two years of heavy relief from federal excise taxes applied to one of the most severely taxed industries in the US. So, what are craft brewers, distillers, and vintners going to do with it? For most, the word is grow.

The tax breaks will translate into substantial annual savings for these craft beverage makers, between $20,000 and $100,000 to be more precise, and allow them to hire more staff, expand operations, and invest in marketing to build their brands.

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US Manufacturers Begin Seeing Benefits From Tax Reform

Following the most recent tax reform legislation passed by the federal government, manufacturers of all sizes have enjoyed success in their sectors. This week, White House Press Secretary Sarah Sanders delivered a daily press brief that highlighted how policies outlined in the new tax law have had a positive impact on businesses. One such success story came from Pittsburg, PA’s H&K Equipment.

A picture of literature that details economics and taxes.

Recently Passed US Tax Legislation Has Had A Favorable Impact On The Nation’s Manufacturers.

H&K Equipment’s Story

The company was founded in 1983 by three entrepreneurs and run out of a garage. Today the company has grown to include 200 employees providing services in selling, renting, and servicing lift trucks, container handlers, railcar movers, personnel carriers, yard trucks, and industrial sweeping and scrubbing equipment.

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