Tariff Troubles: Spirits Soar in Price for U.S. Bar-Goers
U.S. tariffs on UK and European alcohol raise drink prices, affecting brands like Diageo's Guinness and Pernod Ricard's Jameson. The levies, part of a broader $10 billion tariff strategy, could mean up to a $12 increase per Scotch whisky bottle at bars, impacting businesses and consumers alike.
Americans fond of a stiff drink should prepare for increased bar prices, particularly Scotch whisky, due to U.S. tariffs on UK and European imports. An industry analysis reveals these tariffs could increase drink costs by approximately $1 per average serving.
A wide range of European alcoholic products, including French champagne and Italian prosecco, face potential price hikes as U.S. tariffs impact $10 billion of EU imports yearly. Diageo's Guinness and Pernod Ricard's Jameson are prominent brands affected, with a 15% import tariff potentially adding over 80 cents per gallon for wine and spirits.
The financial strain from tariffs could lead to $987.1 million in federal revenue, but the costs are expected to reach consumers, potentially hurting sales and employment. WSWA's analysis suggests Scotch prices at bars could rise by over $12 per bottle once additional taxes and margins are considered.
(With inputs from agencies.)
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