• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick American liquor exports hit record high in 2024, driven by tariffs
Editor's Pick

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

by April 25, 2025
by April 25, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Stocks close higher, clawing back some losses from Monday’s sell-off
  • Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
  • Comcast to announce the spinoff of cable networks, including MSNBC, CNBC and USA, sources say
  • Thousands of autoworkers at Toyota and Honda move to unionize after UAW victory over the Big Three
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Amazon and Nvidia say AI data center demand isn’t slowing
next post
Hasbro forecasts as much as $300 million impact if China tariffs don’t come down

You may also like

Prices held steady in October as inflation slowed further

November 16, 2023

Scientists Plan to Stop Livestock Diseases and Cattle Theft with...

December 16, 2022

Federal judge overturns $4.7 billion jury verdict in ‘Sunday Ticket’...

August 2, 2024

Promises of ‘passive income’ on Amazon led to death threats...

September 27, 2024

Tesla will lay off more than 10% of global workforce

April 17, 2024

NBA says Amazon will be its new media partner, rebuffing...

July 25, 2024

More travelers risk booking hotel rooms on sites that tack...

February 23, 2024

Dockworkers on East and Gulf Coast to return to work...

October 4, 2024

Johnson & Johnson to pay $6.5 billion to resolve nearly...

May 4, 2024

Key fed inflation gauge cools to its slowest rate in...

June 28, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The Index Looks At Potential Resumption Of An Upmove

      June 7, 2025
    • From Tariffs to Tech: Where Smart Money’s Moving Right Now

      June 6, 2025
    • Your Weekly Stock Market Snapshot: What It Means for Your Investments

      June 6, 2025
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Big Rally Ahead Should Yield All-Time High on This Index

      June 6, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,800 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,507 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,488 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,468 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,344 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,121)
    • Investing (538)
    • Stock (2,598)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY’s Behavior Against This Level Crucial As The...

      June 7, 2025
    • From Tariffs to Tech: Where Smart Money’s Moving Right Now

      June 6, 2025
    • Your Weekly Stock Market Snapshot: What It Means for Your...

      June 6, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,121)
    • Investing (538)
    • Stock (2,598)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trump transfers all his DJT shares...

    December 20, 2024

    Amazon is responsible for dangerous products...

    July 31, 2024

    Meta announces end of its DEI...

    January 11, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here