Skip to main content

American Spirits Exports Makes Record Announcement

The U.S. spirits industry saw record growth in 2024, but that success might be hampered by the White House tariffs. 

The American Spirits Exports released their annual report, published by the Distilled Spirits Council of the United States on April 24. They revealed that spirit exports from the U.S. achieved a record $2.4 billion last year which is a cause for celebration after a downturn in the industry. Still, the financial outlook for 2025 is uncertain.

“U.S. spirits exports hit a new high in 2024, recapturing lost market share since the UK and EU lifted retaliatory tariffs that were applied between 2018-2021,” DISCUS President and CEO Chris Swonger said to CNBC. “Unfortunately, ongoing trade disputes unrelated to our sector have caused uncertainty, keeping many U.S. distillers on the sidelines and curtailing sales growth.”

American whiskey was dealt a serious blow due to tariffs during the first Trump presidency and is once again coming into the crossfire of a U.S. versus E.U. trade war

Getty Images

Even though the export of U.S. spirits rose by 39% to Europe, the industry is concerned about the pending 50% tariff on American whiskey. The states that would be impacted the most if the tariffs were upheld include Tennessee, Kentucky, Texas, Florida, and Indiana. They are the top five states exporting bourbon with Tennessee leading the way in 2024 with $934 million in sales. 

There's been some movement from the White House on bourbon tariffs to India which was reduced from 150% to 100%. Swonger hopes this momentum continues in the right direction. “It’s our hope that the administration builds on this positive momentum by securing additional tariff reductions in India and reducing trade barriers in other countries," he added. 

In addition to the E.U., Canada is also a huge concern for the spirit industry. The country is "the second-largest recipient of US-made spirits, totaling $221 million last year," per CNN. Currently, there is a 25% retaliatory tariff on U.S. spirits and many liquor stores removed American products from their shelves. 

Related: 13 Bourbons for Every Occasion



from Men's Journal https://ift.tt/nsikXRV
via IFTTT
Marcadores:

Comments

Post a Comment

Popular Posts

15 Best Dandruff Shampoos for Men

This article was produced in partnership with Blu Atlas Dandruff is one of those pesky conditions that we try to avoid at all times. But, it’s not always as easy as it sounds. There are a lot of symptoms associated with dandruff: we’re talking dryness, flaking, itching, redness, oiliness, the list goes on. So if you want to prevent dandruff from becoming an issue for you, or if you’re struggling to get rid of dandruff, we’ve gathered a list of the 15 best anti-dandruff shampoos and shampoo treatments that will help you stay flake-free. But before we get into our 15 best dandruff shampoos for men roundup, let’s first talk about what exactly dandruff is and what causes it. We most often recognize dandruff by the dry, white flakes of skin that are littered throughout your hair and on the collar of your shirt or shoulders. These flakes can also appear in your eyebrows, beard, or mustache. While these dry, white flakes are harmless, that doesn’t mean they aren’t annoying. Not only can da...
Post a Comment
Read more