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FILE PHOTO: Workers package bottles of Jack Daniel’s Single Barrel Select Tennessee Whiskey at the company’s distillery in Lynchburg, Tennessee, U.S., on Tuesday, May 18, 2021. Luke Sharrett | Bloomberg | Getty Images U.S. spirit exports reached a record $2.4 billion in 2024, driven in large part by tariff concerns and ongoing global trade disputes. That is according to the American Spirits Exports report published by trade association the Distilled Spirits Council of the United States on Thursday. “U.S. spirits exports hit a new high in 2024, recapturing lost market share since the UK and EU lifted retaliatory tariffs that were applied between 2018-2021,” said DISCUS President and CEO Chris Swonger. “Unfortunately, ongoing trade disputes unrelated to our sector have caused uncertainty, keeping many U.S. distillers on the sidelines and curtailing sales growth.” U.S. spirits exports to the EU surged by 39%, fueled by concerns over the potential return of a 50% tariff on American whiskey imports in 2025, which was suspended in 2022. In March, Trump threatened to put 200% tariffs on French Champagne and other EU spirits, which led European world leaders — specifically from Ireland, France and Italy — to advocate for bourbon tariffs not to return as part of retaliatory measures. The threat of that specific tariff has faded somewhat as the U.S. and EU continue trade negotiations. Whiskey barrels are placed on a truck at the Jack Daniel Distillery in Lynchburg, Tennessee, U.S. February 3, 2025. Kevin Wurm | Reuters Approximately 50% of U.S. spirits were exported to the EU — totaling $1.2 billion — making it the largest export market. Exports to the rest of the world, however, declined by nearly 10%, the report found, which reflects the broader softening alcohol category. Suntory Beam, the Japanese maker of Jim Beam bourbon whiskey, said in December it…

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Filed under: News - @ April 24, 2025 4:27 pm