Unhappy with merely bankrupting his own businesses at least four times, Donald Trump's tariffs are severely impacting the US spirits business, which relies on exports.
"In a state like Kentucky, we've known from the start that Trump's sloppy tariff policies would hit us hardest," U.S. Rep. Morgan McGarvey said in an email statement. "Trump should come tell Kentucky farmers who grow the corn for bourbon, and the workers who bottle it, and the truck drivers who get it where it needs to go why his ego-driven trade war is worth sabotaging their job security."
…American whiskey, which includes bourbon, saw global exports decrease by 13%, reflecting a loss of $40.5 million in the second quarter, according to the DISCUS report.
"This trend presents a growing challenge for the U.S. spirits industry. International consumers appear increasingly inclined to substitute U.S. spirits with domestic alternatives or imports from other countries," the report stated.
Courier-Journal
My best guess is that Team Trump's strategy here is to drive more of the United States to drink, and thus replace the plummeting spirit exports destroying the industry here.
Previously:
• Nintendo reopens Switch 2 preorders with post-tariff price hikes
• Brooklyn electronics company Adafruit hit with surprise $36K tariff bill: 'pay in one week'
• 'Volatility' returns as Trump revives tariff plans: 50% on Europe, 25% on iPhones
• Stocks plunge further as tariff news sinks in
• After Trump nicknames himself 'Tariff Man' the stock market plunges
• Trump crows about champagne tariffs while stocks plunge yet again
