Washington, July 22, 2021 (Global News Agency)-The trade association representing some of the top industries and employers in the United States today praised Senators Tammy Baldwin (D-WI) and Tom Cotton (R-AR) for reintroducing aluminum The Pricing Review (APEX) Act, bipartisan legislation will bring transparency to aluminum price reporting and provide stability to American workers and job creators.The legislation and Human resources 2698, Bipartisan legislation was introduced in the House of Representatives in April.
“We commend Senators Baldwin and Cotton for their work to ensure that aluminum costs reflect market fundamentals,” Said Jim McGreevy, President and CEO of Beer Institute. “The APEX bill is a common-sense proposal that will provide much-needed transparency in aluminum pricing. Aluminum is the largest cost of goods for brewers, and the beer industry supports more than 2 million jobs in the United States. This legislation is critical to our country’s brewers. It is important to continue to create high-paying jobs and invest in their business.”
The COVID-19 pandemic has caused massive unemployment in the U.S. beer industry in 2020, resulting in more than 568,000 jobs Beer industry support. Restoring confidence in the metal market will ultimately benefit American workers and the broader American economy, including the millions of American consumers who buy aluminum products every day.
“American beverage companies are proud to support the work of every community in the country,” Said Katherine Lugar, President and CEO of the American Beverage Association. “We commend the bipartisan leadership of Senator Baldwin and Cotton for bringing transparency, enhanced supervision and more certainty to the complex metal pricing system, ultimately benefiting American workers and consumers.
Almost a third of non-alcoholic beverages are in aluminum cans, and more than 74% of all beer produced and sold in the United States is packaged in aluminum cans and bottles. Aluminum used in cans is the largest single cost in beverage and beer manufacturing in the United States.
According to a recent report by Harbour Aluminium, from March 2018 to December 2020, Section 232 tariffs cost the US beverage industry an additional US$848.6 million. Tariffs have brought huge costs to aluminum end users, and these costs will only be magnified by the problems inherent in the current aluminum premium pricing structure. When tariffs are coupled with the impact of the pandemic, U.S. companies face huge costs. U.S. employment and future…