On Thursday, a spirits trade body in the United States of America said that 46 percent of the global spirits exports that are from the United States could be at risk of facing some retaliatory tariffs, after the move of President Donald Trump to impose tariffs on imports of steel and aluminium.
In a letter to Wilbur Ross, the Commerce Secretary, the U.S. Distilled Spirits Council said that spirits exports that have an estimated value of $759 million (£565.5 million) are the target of tariffs from the trading partners of the country, which, once imposed, would severely affect farmers, producers, and the industries that are associated with the spirits business.
The trade group said that an estimated 65 percent of global U.S. whiskey would be greatly affected if Canada, Turkey, the European Union, and/or China retaliated.
In a letter, interim president and chief executive officer of Distilled Spirits Council, Clarkson Hine, stated: “The imposition of tariffs on these products by our major trading partners threatens to seriously impede the export progress that has benefited our sector and created jobs across the country.”
The United States has imposed a 25 percent tariff on imports of steel and a 10 percent tariff on imports of aluminium from countries including Canada, the EU, China, and Mexico.
On Tuesday, Mexico imposed tariffs on American products that range from steel to pork and bourbon as a response.
The trade body represents firms such as Pernod Ricard SA, Brown-Forman Corp, and Diageo PLC.