Trump's Trade War Is Already Hurting American Whiskey Distillers
Source: time
The consequences of the Trump administration’s steel and aluminum tariffs are already being felt across global markets. But the makers of one iconic American product say they stand to suffer more than most: bourbon whiskey distillers. ........................ Bourbon whiskey is among the U.S. exports on the E.U.’s list of potential targets for retaliatory tariffs, alongside Harley-Davidson motorcycles and Levi’s jeans. Distillers and whiskey sellers told TIME the threat of retaliation had already had an impact. “Even before these tariffs are in place, I’m losing business,” says Stephen Gould, founder of the Colorado-based Golden Moon Distillery, which sells bourbon to several countries in the E.U. “I’ve already had customers in Europe that have stopped ordering because they’re concerned.”
“I’m having to do damage control with partners in Italy and the U.K. I’m going to have to take a cut on my profits, because the people on the other side won’t take the hit. If it’s more expensive to get American bourbon or rye they’ll just go for other products.” ......... Europeans have developed quite a taste for American whiskeys in recent years. Sales to the E.U. account for almost half of all U.S. spirit exports and 85% of these are American whiskey, according to the American Craft Spirits Association..................
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