The Beer Institute, a 501(C) organization based in DC, “condemns” President Trump’s proposed tariff on steel and aluminum stating that it will have a significant impact on American beer-makers (and buyers).

Fox News reports:

The Beer Institute is condemning President Donald Trump’s surprise plan to impose tariffs on aluminum and steel imports.

Despite a significant drop in the stock markets on Thursday and Friday, Trump gave no indication that he would back off the plan for a 25 percent tariff for steel imports and 10 percent tariff for aluminum imports.

The Beer Institute — which promotes beer and responsible consumption  as well as sound public policy and regulation for all of America’s brewers, beer importers and industry suppliers — says the aluminum tariff would increase costs to American businesses and endanger American jobs.

“Tariffs are taxes. And taxes are job killers and prosperity killers,” Beer Institute President Jim McGreevy said on “Your World” on Friday, revealing that they estimate this move will cost America’s beverage industry, including brewers and beer importers, $347 million.

He said he hopes the Trump administration will listen to concerns of the beer, soda, aerospace and auto industries, along with the hundreds of other industries that are downstream users of aluminum.

Watch the report: