Trump’s tariffs threaten craft beer as industry battles declining sales and rising costs

America’s craft brewers already have enough problems. Hard seltzers and cocktails are muscling into beer sales. Millennials and Gen Z don’t drink as much as their elders. Brewpubs still haven’t fully recovered from the shock of COVID-19 five years ago.

Now there’s a new threat: President Donald Trump’s tariffs, including levies of 25% on imported steel and aluminum and on goods from Canada and Mexico.

“It’s going to cost the industry a substantial amount of money,” said Matt Cole...