From Yahoo Finance: 2025-03-23 07:45:00

Kentucky distilleries are feeling the squeeze as Canada removes U.S. liquor from shelves due to tariffs. Michter’s Distillery has already lost $115,000 in shipments to Canada, impacting its business. The bourbon industry in Kentucky generates $9 billion annually and employs 23,100 people, with disruptions potentially affecting the state’s economy. Trump’s tariffs on steel and aluminum from Canada could further impact businesses.

Tariffs not only affect American exports but also drive up costs for imported goods, with U.S. companies passing on those costs to consumers. The Peterson Institute for International Economics predicts Trump’s tariffs could raise prices for American households by $1,200 annually. In the automotive sector, prices could increase by $4,000 to $12,500 due to tariffs on steel and aluminum. Food prices are likely to rise as well, impacting grocery bills for consumers.

As negotiations continue, tariffs have ripple effects extending beyond bourbon exports. American consumers can soften the impact on their wallets by looking for alternative brands, buying in bulk, or taking advantage of sales and loyalty programs. Tariffs can significantly increase household budgets, requiring consumers to navigate rising costs strategically.



Read more at Yahoo Finance: Distilleries feel the impact after Canada pulls U.S. booze from shelves. Here’s how tariffs can affect consumer prices