The Reason Behind Why Whiskey Might Cost You More
It seems that everything seems to get more expensive over time. I know I've noticed the higher gas prices this year already, but now it is looking like my whiskey will cost me more too. The reason behind the increase actually has to do with steel, aluminum, and soybeans. The Trump administration announced late last week that it was moving forward with 25 percent tariffs on $50 billion worth of Chinese goods, most of which will go into effect July 6.
China responded by announcing their own tariffs on Ameican goods, one of which happens to be whiskey. And it didn't stop with China, the European Union, meanwhile, is preparing to implement more than $3 billion in tariffs on American goods in response to Trump’s tariffs on steel and aluminum exports to the U.S. Mexico has already imposed 25 percent tariffs on American goods, including bourbon; with other countries possibly following suit.
None of this is good news for the American spirits industry. The Distilled Spirits Council provided the Chicago Tribune with data that showed from 2008 to last year, exports of American whiskey grew almost 43 percent and whiskey exports year to date are up more than 20 percent from last year.
So since there could be less whiskey for sale in Europe and China, the liquor makers may be pushing the lost revenue and increased tariffs paid onto it's US customers. Or you could just head on down to 10,000 Drops and drown your whiskey sorrows.