US spirits exports hit a record high in 2024. Tariffs could destroy that [CNN]
Diageo plc (DEO)
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Source: CNN
Exports hit a record $2.4 billion in 2024, according to the Distilled Spirits Council of the United States (DISCUS). In a report released Thursday, the trade group said that last year's growth is thanks to a rebuilt trading relationship between the US and the European Union. Exports to the EU jumped 39% in 2024 compared to a year prior — a gain put in peril by President Donald Trump's trade war “Unfortunately, ongoing trade disputes unrelated to our sector have caused uncertainty, keeping many US distillers on the sidelines and curtailing sales growth,” said DISCUS President and CEO Chris Swonger in a release. American-made whiskey in particular stands in the crosshairs of the trade dispute. The EU had removed tariffs on US whiskey in 2022. Since then, exports from the US to the EU have jumped nearly 60% to $699 million, according to data compiled by DISCUS. The EU was set to levy new tariffs on American whiskey this month, but delayed them after Trump announced a 90-day pause
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