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Beer and booze fall victim to President Trump’s trade war

Beer and booze fall victim to President Trump’s trade war

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 During President Trump’s first 100 days in office, businesses, investors, consumers, as well as US allies and foes, have been riding a roller coaster, as he imposed and then suspended some reciprocal tariffs on imports at breakneck speed. The chaos and uncertainty unleashed by the tariffs has somewhat abated thanks to Mr Trump pressing the 90-day-pause button on levies above 10%. But what will happen should his administration fail to hash out major trade deals by early July is anybody’s guess. In this podcast Ina Verstl and Ernst Faltermeier analyse the current situation and discuss the actual and potential impact of tariffs on brewers, drinks firms, and consumers. They also remind listeners of what happened when during Mr Trump’s first presidency a trade spat with the European Union led to the imposition of tariffs on Scotch single malt in the US and American whiskies in the EU: Both Scotch whisky and American whiskies lost hundreds of millions of dollars in sales. Will history repeat itself?

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