Industry Reaction To Tariff Announcement Continues
Industry groups continue to urge negotiations to ratchet down trade tensions following the U.S. announcement of broad tariffs across a host of countries this week. “While our industry remains resilient, these trade policies create significant uncertainty in supply chains and pricing, affecting the entire beverage alcohol industry and the broader hospitality sector,” the Wine & Spirits Wholesalers of America (WSWA) said in a statement. “Ultimately, consumers will bear the brunt of these changes, facing higher prices and reduced access to the diverse selection of products they expect.
“WSWA strongly urges U.S. officials and their counterparts abroad to engage in meaningful negotiations that result in fair and reciprocal trade practices,” the distributor group continued. “Tariffs and trade barriers disrupt long-established relationships and hinder economic growth for businesses on both sides of the Atlantic.”
The Toasts Not Tariffs coalition, representing all three tiers of the business, also issued a call for negotiations and a return to free trade. “The tariffs and ongoing trade disputes pose significant threats to U.S. hospitality businesses, including restaurants, bars, taverns, small package stores and grocery outlets, and their employees,” the group stated. “Farmers growing crops on more than 1 million acres of farmland in the U.S., as well as the transportation, distribution, bottling, packaging, marketing, and finance sectors will also be negatively impacted.”
Across the pond, the Scotch Whisky Association issued a statement after the U.K. was hit with 10% U.S. tariffs as part of the new U.S. trade policy. “The industry is disappointed that Scotch whisky could be impacted by these tariffs,” it said. “We welcome the intensive efforts by the U.K. government to reach a deal with the U.S. administration, and we continue to support this measured and pragmatic approach towards a mutually beneficial resolution.”
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