Reported 1 day ago
Trump's newly implemented 20% tariffs on European Union imports threaten the US bourbon and spirits industry, which is already facing difficulties from declining demand and competition. Analysts warn that proposed 200% tariffs on EU wine and spirits could severely limit imports and exacerbate existing challenges. Producers like Brown-Forman are preparing for these tariffs, while companies including Diageo and Campari may need to raise prices significantly to offset the tariff impacts, leading to a pessimistic outlook for the sector amid shifting consumer preferences.
Source: YAHOO