(Bruce Schreiner – Associated Press)
Retaliatory tariffs caused a sharp downturn in American whiskey exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday.
Exports to some key overseas markets gyrated wildly last year for producers of bourbon, Tennessee whiskey and rye whiskey. Overall, U.S. spirits exports in 2018 stayed on another record-setting trajectory, due in part to surging whiskey sales in the months leading up to the tariffs as larger distillers stockpiled supplies, the Distilled Spirits Council said. Other categories including vodka, brandy and rum also had strong overseas sales.
But exports would have been much higher without the trade war, it said.
“For the first time, data can demonstrate the negative impact of retaliatory tariffs on what had been a booming export growth story,” said Christine LoCascio, the council’s senior vice president for international affairs. Click here to read more.
- Overseas Tariffs Sour U.S. Whiskey Exports (Reuters)
- US-China Trade War Has Hurt Sectors as Diverse as American Whiskey and Appliances (MarketWatch)