How Trump’s trade war could impact Colorado businesses

DENVER -- President Donald Trump is in the midst of a trade war with countries like China, Mexico and Canada. The White House has recently increased tariffs on imports from a number of countries. The most recent plans call for an additional $200 billion worth of tariffs on Chinese goods.

Some Colorado companies are wondering how the tariffs might impact their business.

Construction

Construction companies tell the FOX31 Problem Solvers they are preparing for increased costs. Steel -- a major component in construction -- is being hit with tariffs.

For instance, $1 million worth of foreign steel would cost $250,000 more under Trump's tariffs.  Most of the steel used in the United States comes from countries like China, Mexico and Canada -- countries all currently in a trade feud with the U.S.

"A lot of supplies on construction machinery come from China. Something as simple as ball bearings -- the prices are going up," said University of Denver Professor John Holcomb.

Appliances

The Washington Post, which has conducted extensive analyses of prices, has reported the average cost of appliances have increased $50 since the tariffs began to be implemented.

Beer

Coors Brewing is on the record saying they believe the trade war will impact the price of beer.

Coors, the original maker of the aluminum beer can, believes beer prices will go up because of the price of aluminum.

"I love what the president has done in most cases, but the tariff is basically a tax on people who use aluminum," Pete Coors told CNN.

Colorado exports

The U.S. Chamber of Commerce estimates more than $276 million in exports are being threatened by the trade war. Other countries could penalize their imports of Colorado goods -- like food.

Steel companies

Steel workers, particularly in Pueblo, are praising the news.  The belief is that more American companies will be forced to use U.S. steel -- a political calculation Trump is banking on.

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