(NewsNation) — The Trump administration’s threats of a global trade war have left small businesses facing uncertainty.
On Thursday, President Donald Trump threatened a 200% tariff on European wine, champagne and spirits.
The proposed tariff is a response to the European Union’s planned 50% tariff on American whiskey. It is expected to go into effect April 1.
Does Canada really have tariffs above 200% on US dairy products?
There is currently a 25% tariff on most goods coming from Mexico and Canada that officially went into effect on March 4 after a 30-day pause.
Kevin Cary, owner of Begyle Brewing in Chicago, said his brewery imports about 200,000 pounds of barley from Canada each year and that the tariffs would hurt the brewery’s margins.
On Wednesday, Trump announced a 25% tariff on all steel and aluminum imports, another expense for Cary’s business as they need enough to produce about 1 million cans each year. He says the back-and-forth is leaving him confused.
“It’s hard when you’re managing any business to not really know what you’re going to do in a month or three months or a year,” Cary said. “It impacts hiring and contracts.”
