American-made whiskey sales have taken a hit in recent years due to high inflation.
However, tariff threats and a potential trade war with Canada and Mexico have the spirits industry on edge. Now, tariffs are threatened against the European Union.
The 27-nation trade bloc recently announced retaliatory tariffs, which are set to begin on April 1st.
American whiskey producers should see their tariff rates grow from 0 to 50%. Distillers say it would be catastrophic and could force many out of their largest export market.
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In June, prices were down 77% compared to the highest weekly price in 2022.
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