Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

American liquor exports hit record high in 2024, driven by tariffs

by admin April 28, 2025
April 28, 2025
American liquor exports hit record high in 2024, driven by tariffs

U.S. spirit exports reached a record $2.4 billion in 2024, driven in large part by tariff concerns and ongoing global trade disputes.

That is according to the American Spirits Exports report published by trade association the Distilled Spirits Council of the United States on Thursday.

“U.S. spirits exports hit a new high in 2024, recapturing lost market share since the UK and EU lifted retaliatory tariffs that were applied between 2018-2021,” said DISCUS President and CEO Chris Swonger. “Unfortunately, ongoing trade disputes unrelated to our sector have caused uncertainty, keeping many U.S. distillers on the sidelines and curtailing sales growth.”

U.S. spirits exports to the EU surged by 39%, fueled by concerns over the potential return of a 50% tariff on American whiskey imports in 2025, which was suspended in 2022.

In March, Trump threatened to put 200% tariffs on French Champagne and other EU spirits, which led European world leaders — specifically from Ireland, France and Italy — to advocate for bourbon tariffs not to return as part of retaliatory measures.

The threat of that specific tariff has faded somewhat as the U.S. and EU continue trade negotiations.

Approximately 50% of U.S. spirits were exported to the EU — totaling $1.2 billion — making it the largest export market.

Exports to the rest of the world, however, declined by nearly 10%, the report found, which reflects the broader softening alcohol category.

Suntory Beam, the Japanese maker of Jim Beam bourbon whiskey, said in December it was preparing for tariffs by stockpiling supply in Europe. The company is already heavily reliant on France and the United Kingdom, which make up over 50% of its global exports market over the last eight years, according to global trade data from Panjiva.

Several of the top states for exports in 2024 are significant bourbon economies, according to the report.

Still, American whiskey exports, which accounted for 54% of all U.S. spirits exports, dipped 5.4% to $1.3 billion.

Swonger said that while outlook for spirits remains highly unpredictable with ongoing trade disputes, one fact rings true in the data: Exports go to countries that have eliminated tariffs.

“We are thankful for President Trump’s early success in securing India’s reduction of its tariff on Bourbon from 150% to 100%,” Swonger said. “It’s our hope that the administration builds on this positive momentum by securing additional tariff reductions in India and reducing trade barriers in other countries.”

Headwinds remain for the industry. Canada, the second largest market for U.S. spirits exports, imposed a 25% tariff in on alcohol coming over the border in March, and several provinces have removed product from shelves.

Distiller and brewers also face steel and aluminum tariffs that impact materials costs for brewers like Constellation Brands, which lowered long-term 2027 and 2028 guidance significantly around “the anticipated impact of tariffs.”

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
S&P 500 Rises from Bearish to Neutral, But Will It Last?
next post
The trucking industry hits the brakes with tariffs set to dent imports

Related Posts

Clothing chain Bob’s Stores closing after 70 years

July 5, 2024

Why ‘wardrobing’ retail fraud soars in the summer

August 9, 2024

Dollar Tree says it’s winning over higher-income shoppers...

March 28, 2025

Auto insurance rates are jumping the most since...

May 25, 2024

Musk threatens ‘immediate’ legal action against Apple over...

August 13, 2025

Fed Governor Christopher Waller sees central bank ‘getting...

July 18, 2024

Employers added 206,000 jobs in June, as sturdy...

July 9, 2024

Warren Buffett’s Berkshire Hathaway reveals new stake in...

August 16, 2025

Abercrombie expects a strong holiday quarter as growth...

November 28, 2024

United Airlines reaches ‘industry-leading’ labor deal with flight...

May 24, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • White House move to cancel $4.9B foreign aid with ‘pocket rescission’ blasted as illegal

      August 30, 2025
    • Meet the radical anti-Israel activists joining ‘Squad’ Dem Tlaib at Detroit confab

      August 30, 2025
    • Abbott signs Texas redistricting map into law, securing major GOP victory ahead of 2026 midterms

      August 30, 2025
    • Witkoff meets Ukraine officials in New York ahead of emergency UN Security Council meeting: ‘Very productive’

      August 30, 2025
    • Senators demand oversight, reject vaccine guidance as illegitimate as CDC turmoil rages

      August 30, 2025

    Categories

    • Business (1,091)
    • Investing (2,941)
    • Politics (3,589)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved