MontyPython
It's Just a Flesh Wound!
- Joined
- Jun 28, 2019
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Jack Daniels again in the crosshairs. Vote for Trump = business gets hurt... again.
Per CNBC:
...The recent data on tariffs and consumer decision-making is clear: raise prices on a product due to higher import taxes, and consumers will turn to a cheaper alternative.
That doesn’t bode well for certain U.S. products, and the states where they are produced, as the U.S. and EU engage in tit-for-tat tariff threats. Think California almonds, Tennessee whiskey, and rearview mirrors from Michigan.
From 2017-2019, Tennessee whiskey exports to the European Union dropped from $362 million to $220 million amid President Donald Trump’s first term trade war, and exports remained low until the retaliatory tariffs were suspended, according to a recent research report from Trade Partnership Worldwide...
But Anthony said it is the California almonds, Tennessee whiskey, and rearview mirrors from Michigan that stand as some of the best examples of acute risk and market need — “the EU is the biggest buyer of these products and retaliatory tariffs will hurt much more.”
Brandon Daniels, CEO of corporate risk management consultant Exiger, said the retaliatory EU tariffs place American whiskey producers at a substantial competitive disadvantage.
“States like Tennessee and Kentucky, whose economies depend significantly on this luxury export, would feel acute economic pressure. This is where politics and trade policy collide at the moment,” said Daniels.
Per CNBC:
...The recent data on tariffs and consumer decision-making is clear: raise prices on a product due to higher import taxes, and consumers will turn to a cheaper alternative.
That doesn’t bode well for certain U.S. products, and the states where they are produced, as the U.S. and EU engage in tit-for-tat tariff threats. Think California almonds, Tennessee whiskey, and rearview mirrors from Michigan.
From 2017-2019, Tennessee whiskey exports to the European Union dropped from $362 million to $220 million amid President Donald Trump’s first term trade war, and exports remained low until the retaliatory tariffs were suspended, according to a recent research report from Trade Partnership Worldwide...
But Anthony said it is the California almonds, Tennessee whiskey, and rearview mirrors from Michigan that stand as some of the best examples of acute risk and market need — “the EU is the biggest buyer of these products and retaliatory tariffs will hurt much more.”
Brandon Daniels, CEO of corporate risk management consultant Exiger, said the retaliatory EU tariffs place American whiskey producers at a substantial competitive disadvantage.
“States like Tennessee and Kentucky, whose economies depend significantly on this luxury export, would feel acute economic pressure. This is where politics and trade policy collide at the moment,” said Daniels.
