Trade war with Canada has contributed to a significant decline in U.S. liquor sales
Jim Beam, one of the largest makers of American whiskey globally, is shutting down bourbon production at one of its Kentucky distilleries for a year.
The move comes amid Donald Trump’s trade war with Canada, which has contributed to a significant decline in U.S. liquor sales after the country ushered in a boycott of American booze, and as more young adults are cutting back on drinking.
Jim Beam, owned by Suntory Global Spirits, is one of Kentucky’s biggest bourbon producers.
The Bluegrass state’s $9 billion whiskey bourbon industry has been struggling to manage its abundant supply of liquor against the drop in demand.
The two are very much related. We’re just in a special category with Denmark and perhaps Venezuela. But I recall him specifically saying we wouldn’t be able to survive the tariffs he was imposing. I will continue to do what I can to keep my money from going to America.