Steel tariffs could increase costs for Colorado breweries - KOAA.com | Continuous News | Colorado Springs and Pueblo

Steel tariffs could increase costs for Colorado breweries

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President Trump is following through on a campaign pledge to impose new tariffs to protect American steel and aluminum producers. However, the move is creating fear of a trade war.

The Dow Jones Industrial Average closed down more than 400 points after Thursday's announcement, and investors worry that everything from cars to appliances could cost more in the future.

But American industry leaders say it will grow domestic steel production and add jobs.

Here in Colorado, breweries are worried about a potential  increase, with Oskar Blues Brewery in Colorado Springs saying it could cost them an extra $400,000 a year to continue canning their beer.

The new tariffs are expected to be finalized next week.

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