American whiskey companies must think foreign tariffs are not so neat. International trade disputes led whiskey exports to fall by 8.7 per cent in the second half of 2018.
ADVERTISEMENTRetaliatory tariffs caused a sharp downturn in American whisky exports in the last half of 2018 as distillers started feeling the pain from Donald Trump's trade disputes, an industry trade group said.
American whisky exports to the European Union — the industry's biggest export market — fell by 8.7 per cent from July through November of last year, compared to the same period in 2017, the Distilled Spirits Council said in its annual report released in New York.
"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.