The new round of 25% tariffs on steel and aluminum imports into the United States, imposed by President Donald Trump, is raising concerns for local businesses in Wisconsin, particularly in Milwaukee.
Third Space Brewing, which relies heavily on aluminum cans for its products, is worried about potential price hikes for their raw materials.
The brewery’s owner, Kevin Wright, highlighted that aluminum cans are their number one raw material cost, and uncertainty surrounding the tariffs makes it difficult for them to plan their pricing strategy.
Similarly, Fyxation Bicycle, which imports most of its products from China, is also preparing for the impact of these tariffs. Owner Nick Ginster expressed concerns about the possibility of increased costs for their bicycle and accessory imports.
With the threat of higher prices, both businesses are considering raising prices or absorbing the increased costs, though they remain uncertain about the full scope of the tariffs’ impact on their suppliers.
The situation reflects broader concerns about the effects of trade policies on small businesses, particularly those reliant on imported goods, and the uncertainty that comes with such changes.