Tariffs Catch-All

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www.bbc.com

How Kentucky bourbon went from boom to bust

Tariffs, oversupply and teetotaling Gen-Zs have all contributed to the downfall of one of America's most iconic liquors.
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Sales of bourbon grew by 7% worldwide between 2011-2020, which is more than three times the growth of the decade prior, according to industry data company ISWR.

Soon, some bourbon distillers were becoming quasi-celebrities, and people were starting to buy up bourbon bottles not to drink, but as an investment.

"Everyone was going crazy over the bourbon market, and treating like a commodity, like a stock," recalls Robin Wynne, a general manager and beverage director for Little Sister in Toronto, Canada, who has been a bar manager for about 25 years.

"People would go in as a prospector, to flip bottles for two to three times the value."
But like most market bubbles, this one was bound to burst. The pandemic's lockdowns tanked bar sales, and inflation has made many would-be bourbon drinkers choose less expensive options - or forgo drinking all together. Amongst Gen-Z, many 20-somethings are drinking less than their older siblings and parents did at their age.

Those factors have contributed to declining alcohol sales, with bourbon sales specifically slowing down to just 2% between 2021-2024, according to ISWR data.

President Donald Trump's global tariffs have been the final straw. The EU has announced retaliatory tariffs against US goods, including Kentucky bourbon and Californian wine, although implementation has been delayed for six months.

Meanwhile, most provinces in Canada have stopped importing American alcoholic beverages in retaliation. The country accounts for about 10% of Kentucky's $9bn (£6.7bn) whiskey and bourbon business.

"That's worse than a tariff, because it's literally taking your sales away, completely removing our products from the shelves ... that's a very disproportionate response," Lawson Whiting, the CEO of Brown-Forman, which produces Jack Daniels, Woodford Reserve and Old Forester, said back in March when Canadian provinces announced their plan to stop buying US booze.
 
No 1929 events since 1929. Trump does some new stuff. If we stop the new stuff, it will be like 1929. Sadly, this is the type of reasoning that Trump uses ALL THE FUCKING TIME. I'm not really surprised to see it here.

The only thing I am surprised to see is the claim that the US would be forced to pay out trillions of dollars because reasons. The Federal Circuit is guaranteed not to be bamboozled by such bullshit. Just because Trump doesn't understand how trade agreements work doesn't mean the Federal Circuit won't.

This case is pretty much over already. It's clear how the Circuit will rule. Question of whether the Supreme Court will stay.

Trump doesn't realize it but the Federal Circuit could save his ass politically.
 
I'm all for higher taxes for wealthy individuals and the largest US companies, but Trump granting NVDA and AMD a ntional security! export license to sell chios to China IF they also toss in 1% of tjheir China revenue either
a) sets terrible precedent or
b( offers amazing opps for future Dem Prez

1) Cpmpany wants to sel F35 jets to X countryt. US says yes if you give us 20& of sale for climate changte mediation
2) FDA grants Eli Lillu approval for new drug in return for 15 of US sales and 25 of foreign
3) US allows US comapnies to sell LNG to Europe but requires 20% of sales with thast going to EV subsidies
4_ Want to drill in Alaska: 50% of revenues if you want approval
etc etc
Imagine what Bernie SAnders (recent Gallup poll has him as 2nd most popular figue in US behind Pope) could do with such powers.
 
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