00:00Thank you. Just a note on the tariffs, when he excludes companies for the tariffs, they're
00:07always the big companies, but the small business suppliers don't get the exemption.
00:11Can I give you an example of a business in Illinois? I was just with a small business,
00:16start-up business, a craft brewer. We have a big craft brewery industry in Illinois.
00:22It's not unique to the Midwest, but we have a lot of beer drinkers. I think Wisconsin
00:28has more bars per capita than any other, which I admire, but we have a lot of craft
00:35brewers. We have a great industry there, but there are four guys who come from the south
00:40side of Chicago who started a business, craft brewery business, and it's award-winning.
00:47I tried all four of the beers they make. I sat with these guys and talked to them about
00:53their business, but this was before the tariffs, about two months ago. I asked them, what will
00:59happen to your business if the tariffs on Canada and Mexico go in place? They told me
01:06that if the tariffs on Canada go in place, the cost of barley will go up by 25%, and
01:16that's a prime ingredient, and they buy it from Canada. The cost of aluminum to make
01:22the cans that they put their beer in will go up enormously, and to buy a can of their
01:28beer will go up at least 25%, partly because others will take advantage of the fact that
01:36the smaller start-up business will struggle. And so these guys said, if the tariffs go
01:43in place, we may have to go out of business. Well, here we are. Those tariffs are in place,
01:49and unfortunately, that brewery is going to struggle. Now, they're hoping and praying
01:54that these tariffs will end sometime soon so that they can continue on the path of building
02:00their business before they have to go out of business. But this is the kind of example
02:06that the tariffs are having a terrible effect on, again, it's go to the grocery store,
02:13your tomatoes, your lettuce, your beer at the grocery store. By the way, the big beer
02:18companies, they're going to absorb some of the costs for a little while. They're going
02:22to suffer profitability, but they're going to be able to survive for some period of time,
02:31and also they're global. The small beer companies and the start-up craft brewer aren't going
02:37to make it if Donald Trump succeeds at what he's trying to do.
Comments