U.S. whiskey exports dry up as tariffs bite

[Eugene]

Source: Reuters

BUSINESS NEWS MARCH 21, 2019 / 12:10 AM / UPDATED 4 HOURS AGO

U.S. whiskey exports dry up as tariffs bite

(Reuters) - American whiskey exports slumped in the second half of 2018, taking a blow from higher duties by the country’s trading partners following President Donald Trump’s tariffs on steel and aluminum imports, an industry group said on Thursday.

Canada, China, Mexico and the European Union slapped import duties ranging from 10 percent to 25 percent on U.S whiskey and bourbon last year, resulting in a 11 percent drop in U.S. whiskey exports in the second half, according to a report from the Distilled Spirits Council.

For the first six months of 2018, whiskey exports grew 28 percent compared to the same period in 2017, partly helped by companies like Jack Daniels maker Brown-Forman Corp, fast-tracking shipments overseas, especially to Europe, before the tariffs kicked in.

Overall for the full-year 2018, whiskey exports rose 5.1 percent to $1.18 billion, a significant drop from the 16 percent rise seen in 2017.

-snip-

Read more: https://www.reuters.com/article/us-usa-trade-bourbon/u-s-whiskey-exports-dry-up-as-tariffs-bite-idUSKCN1R2098

[True Blue American]

1. There goes Mitch

And his Kentucky Bourbon!