In the Face of New, 100% Tariffs, What Spirits to Stock Up On Now
Whiskies, cognac, Campari, bottles of Champagne—America’s favorite European wine and spirits may soon be out of reach for consumers
Source: Vendors
By this weekend, the U.S. Trade Representative (USTR) may institute a new round of tariffs on wines and spirits (as well as other luxury goods and foodstuffs, such as cheese) imported from the European Union. The increase could affix as much as a 100% increase to the import price. It’s the latest escalation in Trump’s trade war with the EU, which saw a 25% tax levied this past October and has united distillers on both sides of the Atlantic as it rattles the global whiskey business.
“Assuming there is a 100% ad valorem tariff, American consumers could expect the average price of impacted spirits and wines to be approximately 60% more costly in stores, restaurants, and bars within 90 days of tariff imposition,” says David M. Jabour, president of Twin Liquors, one of Texas’s largest beverage retailers, with 80 locations.