Impact of Global Trade Tensions on American Distillers
American distillers are facing significant challenges due to global trade tensions, particularly with Canada. Exports of spirits to Canada have plunged 85% earlier this year, according to an industry group.
The Distilled Spirits Council of the United States reported broad declines in key international markets. Even with a thaw in trade relations, the effects may be long-lasting.
“Even though things have eased up, we still are not back on the shelf in Canada,”said Kentucky craft distiller Tom Bard.
“Probably won’t be for a good long while.”
The majority of Canadian provinces continue to ban American spirits from shelves, despite Canada removing its retaliatory tariff on the products. Another concern is that consumer reaction to trade conflicts could curb the international demand for American spirits in key markets.
Author's summary: American distillers face costly trade tensions.
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