U.S. Whiskey exporters struggle after year of EU tariffs
BRISTOL, Pa. (Reuters) - When Europe’s tariffs on U.S. whiskey hit in June 2018, craft distillery Mountain Laurel Spirits LLC lost 10% of its sales overnight as its European distributor simply stopped buying its award-winning Dad’s Hat Pennsylvania Rye Whiskey.
Foreign governments subject to U.S. President Donald Trump’s trade tariffs have targeted American distilleries and their bourbon and rye whiskeys for retaliation. The industry fears new tariffs under consideration by the U.S. government could result in even higher tariffs on their products in Europe.
U.S. whiskey exporters are struggling to recoup lost sales after shipments to Europe plummeted 21% between June 2018 and 2019, according to data from the Distilled Spirits Council, a U.S. industry group.
In the 12 months before the tariffs hit, the United States exported $757 million of rye and bourbon. From July 2018 to June 2019 exports were $597 million. Exports are a sizeable chunk of sales the U.S. whiskey industry, which generated $3.6 billion in revenue in 2018.
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https://www.reuters.com/article/us-usa-trade-whiskey/u-s-whiskey-exporters-struggle-after-year-of-eu-tariffs-idUSKCN1V80DN
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