Senators Tammy Baldwin (D-WI) and Tom Cotton (R-AR) reintroduced the Aluminum Pricing Examination (APEX) Act this week, bipartisan legislation that would bring transparency to aluminum price reporting and ensure that they reflect market fundamentals. The legislation is identical to H.R. 2698, bipartisan legislation introduced in the House of Representatives in April.
This is no small thing considering almost one-third of all non-alcoholic beverages come 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 single most substantial cost in American beverage and beer manufacturing. The big beer and beverage trade associations all applauded the move.
“The APEX Act is a commonsense proposal that will provide much-needed transparency to aluminum pricing,” said Jim McGreevy, president and CEO of the Beer Institute. “Aluminum is the largest commodity cost for brewers, and the beer industry supports more than 2 million jobs across the U.S. This legislation is critical for our nation’s brewers to continue to create good-paying jobs and invest in their operations.”
The COVID-19 pandemic caused significant job losses in the American beer industry in 2020, resulting in the loss of more than 568,000 jobs that the beer industry supports. Restoring confidence in the metals market will ultimately benefit American workers and the broader U.S. economy, including the millions of American consumers who purchase aluminum products every day. According to a recent report by Harbor Aluminum, from March 2018 through December 2020, the Section 232 tariffs cost America’s beverage industries an additional $848.6 million.