Tariffs Lead to Spirited Price Surge in U.S.
U.S. tariffs on European alcohol, including Scotch whisky, are set to increase prices by approximately $1 per drink. Wine and spirits will see significant price hikes due to a 15% levy, impacting $10 billion worth of imports annually. The tariffs could lead to diminished sales and job losses.
U.S. consumers should brace themselves for a spike in alcohol prices at bars, particularly for Scotch whisky, due to American tariffs on UK and European goods, according to an analysis revealed exclusively to Reuters. Other European alcohols, such as French champagne and Irish whiskey, might also see price upsurges.
President Donald Trump's 15% tariffs on European Union imports are set to drive up wholesale wine and spirit prices drastically, likely impacting consumers and businesses across the country. The tariffs could generate nearly $987.1 million in federal revenue, but at the expense of sales and jobs.
The industry analysis, prepared for the Wine & Spirits Wholesalers of America, predicts that the U.S. tariffs will significantly impact spirit prices, potentially adding $12 per bottle in some cases. With the holiday season approaching, this could further dent sales, which are already declining due to consumer habits and competition.
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