Citi highlights a CNBC report that the Trump administration will implement a 25% tariff on all imported canned beer and empty aluminum cans starting on Friday, according to the Department of Commerce. Tariffs could be incrementally negative for Ball Corp. (BALL) and Crown Holdings (CCK), with can-making operations close to the border in Monterrey, Mexico, that are dependent on beer imports, the analyst tells investors in a research note. The firm says glass containers were not included in the Department of Commerce report, at this time, implying potential upside for O-I Glass (OI) as the company operates a sizable joint venture with Constellation Brands (STZ). Conversely, tariffs on imported glass containers could have been a positive catalyst for O-I Glass to curtail imports from Asia, adds Citi.
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