The EU targets American whiskey amid trade disputes with the US.
As the trade war between the Trump administration and the European Union (EU) has been on the rise since the last quarter of 2019, American whiskey distillers have lost more than $300 million a in export revenues since becoming entangled in the political dispute.
According to the Associated Press, exports of American whiskey — mostly bourbon, Tennessee whiskey and rye whiskey — to the European Union have fallen over 3o% since the EU imposed a retaliatory tariff on those products on June 22, 2018, according to a report by the Distilled Spirits Council of the United States that was published June 22nd. The EU targeted American whiskey and other U.S. products in response to President Donald Trump’s decision to impose tariffs on European steel and aluminum. The new report shows that the tariffs “derailed a great American export success story,” said Chris Swonger, the council’s president and CEO.
According to the data, American whiskey exports to the EU fell from $757 million to $501 million — down $256 million, or 33% — between June 2018 and April 2020, the last month export data was available, the report said. Globally, the U.S. exported $955 million of American whiskey in 2019, the council said.