• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Investing

American liquor exports hit record high in 2024, driven by tariffs

by April 25, 2025
written by April 25, 2025

U.S. spirit exports reached a record $2.4 billion in 2024, driven in large part by tariff concerns and ongoing global trade disputes.

That is according to the American Spirits Exports report published by trade association the Distilled Spirits Council of the United States on Thursday.

“U.S. spirits exports hit a new high in 2024, recapturing lost market share since the UK and EU lifted retaliatory tariffs that were applied between 2018-2021,” said DISCUS President and CEO Chris Swonger. “Unfortunately, ongoing trade disputes unrelated to our sector have caused uncertainty, keeping many U.S. distillers on the sidelines and curtailing sales growth.”

U.S. spirits exports to the EU surged by 39%, fueled by concerns over the potential return of a 50% tariff on American whiskey imports in 2025, which was suspended in 2022.

In March, Trump threatened to put 200% tariffs on French Champagne and other EU spirits, which led European world leaders — specifically from Ireland, France and Italy — to advocate for bourbon tariffs not to return as part of retaliatory measures.

The threat of that specific tariff has faded somewhat as the U.S. and EU continue trade negotiations.

Approximately 50% of U.S. spirits were exported to the EU — totaling $1.2 billion — making it the largest export market.

Exports to the rest of the world, however, declined by nearly 10%, the report found, which reflects the broader softening alcohol category.

Suntory Beam, the Japanese maker of Jim Beam bourbon whiskey, said in December it was preparing for tariffs by stockpiling supply in Europe. The company is already heavily reliant on France and the United Kingdom, which make up over 50% of its global exports market over the last eight years, according to global trade data from Panjiva.

Several of the top states for exports in 2024 are significant bourbon economies, according to the report.

Still, American whiskey exports, which accounted for 54% of all U.S. spirits exports, dipped 5.4% to $1.3 billion.

Swonger said that while outlook for spirits remains highly unpredictable with ongoing trade disputes, one fact rings true in the data: Exports go to countries that have eliminated tariffs.

“We are thankful for President Trump’s early success in securing India’s reduction of its tariff on Bourbon from 150% to 100%,” Swonger said. “It’s our hope that the administration builds on this positive momentum by securing additional tariff reductions in India and reducing trade barriers in other countries.”

Headwinds remain for the industry. Canada, the second largest market for U.S. spirits exports, imposed a 25% tariff in on alcohol coming over the border in March, and several provinces have removed product from shelves.

Distiller and brewers also face steel and aluminum tariffs that impact materials costs for brewers like Constellation Brands, which lowered long-term 2027 and 2028 guidance significantly around “the anticipated impact of tariffs.”

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Amazon and Nvidia say AI data center demand isn’t slowing
next post
Hasbro forecasts as much as $300 million impact if China tariffs don’t come down

You may also like

China outlines more controls on exports of rare...

October 10, 2025

Paramount acquires Bari Weiss’ The Free Press, naming...

October 7, 2025

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (651)
    • Stock (6,426)

    Latest News

    • China outlines more controls on exports of rare earths and technology
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

    Popular News

    • US money market funds see large inflows as election nears
    • Analysis-To Europe’s economic malaise, add a leadership void

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy