Mexico hits Tennessee whiskey with tariffs, distillers urge new trade policy

[riversedge]

tsk tsk



Mexico hits Tennessee whiskey with tariffs, distillers urge new trade policy

https://www.tennessean.com/story/money/2018/06/07/tennessee-bourbon-whiskey-shares-drop-after-mexico-retaliation-trump-tariffs/682547002/

Jamie McGee, The Tennessean Published 9:47 p.m. CT June 7, 2018


When Mexico retaliated against the U.S. on trade this week, famous, Tennessee-made whiskey was among products hit, prompting distillers to urge new trade policy from the Trump administration.

The Distilled Spirits Council wrote to U.S. Commerce Secretary Wilbur Ross on Thursday, asking to meet with him to work on a trade solution that would not harm the spirits sector. The letter comes two days after Mexico placed a 25 percent tariff on U.S. whiskey, and as Canada, the European Union and other countries are proposing their own spirits tariffs in response to steel and aluminum tariffs from the Trump administration.
A selection of Jack Daniel's brands.






A selection of Jack Daniel's brands. (Photo: Courtesy of Jack Daniel's)

Shares of Brown-Forman, owner of Lynchburg-based Jack Daniel's Distillery, have dropped 8 percent since Tuesday.

"We are extremely concerned about the increasing likelihood that the European Union, Canada, Turkey and/or China will soon begin retaliating against the U.S. distilled spirits products," Distilled Spirits Council Interim CEO Clarkson Hine wrote. "The imposition of tariffs on these products by our major trading partners threatens to seriously impede the export progress that has benefitted our sector and created jobs across the country."

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More: Trump's tariffs will have 'ripple impact' on Tennessee auto sector

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Ross said last week that the European Union, Mexico and Canada would not be exempted from the administration 25 percent steel tariffs and 10 percent tariffs on aluminum. Trump had previously announced the tariffs would be directed at China.

[roamer65]

1. I hope Canada and the EU hit them harder than Mexico.

[Sunlei]

5. Canada and the EU are TPP countries- it's free trade for all TPP countries.

[Blue_true]

9. The EU is not TPP.

Canada is because it worked with us. China is not TPP, TPP was supposed to act as a counterweight to Chinese aggression in the South China Sea region.

[liberal N proud]

2. Someone please remind these distillers that they need to get rid of the turtle

[Docreed2003]

4. Tennessee my friend...the turtle is owned by our friends just to our north!

[liberal N proud]

7. Don't know what I was thinking

Both states are full of idiots who keep voting against their own interests

[Docreed2003]

8. Tell me about it....

I live in the Nashville area!

[Sunlei]

3. China stockpiled products & will send through panama residents name bypass all tarriffs.

[eleny]

6. LOL!

..... .....

[workinclasszero]

10. Tell it to your damn Senator, Jack Daniels Co

Oh wait, his head is so far up Trump's ass he can't hear you!