Jack Daniel’s Latest Iconic American Brand To Get Stung By Trump Tariffs

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Jack Daniel’s Latest Iconic American Brand To Get Stung By Trump Tariffs

According to Brown-Forman, parent company of Jack Daniel’s, the ongoing trade dispute between the U.S. and the E.U. is hurting the whiskey business, and could ultimately damage America’s most popular whiskey.

The Jack Daniel’s parent company said on Wednesday that it expects net income to drop from a previous estimate of $1.75 to $1.85 per share to $1.65 to $1.75 per share, a dip that would equate to a $50 million loss in profits for fiscal 2018.

To offset this perceived damage, Brown-Forman plans to raise prices in the U.K., Germany, and other “key segments” of the European market, Fox Business reports.

The increases would still not offset the cost of the tariffs completely, company officials said.

Brown-Forman already raised prices in some markets to offset the E.U.’s 25 percent tariff on American whiskey, a measure taken after President Trump imposed tariffs on steel and aluminum imports earlier this year.

Jack Daniel’s isn’t exactly suffering yet. The popular bourbon brand is currently the top selling spirit in America, with sales reaching $309,725,503 over the last year. It’s also the fourth top-selling spirit in the world. But the price changes reflect a very real pressure Trump’s tariffs are putting on the spirits business, and global trade overall.


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