Jack Daniels is another in a list of companies targeted by retaliatory tariffs in Trump’s trade war and thus they are going to have to ‘jack’ up prices in the EU:
NY POST – The cost of imbibing in Europe is going up.
Jack Daniels said the price of whiskey will increase 10 percent on the continent because of the European Union’s tariffs on American goods in retaliation for President Trump slapping levies on steel and aluminum imports, according to a report on Tuesday.
A spokesman for Brown-Forman Corp., the producer of Jack Daniels, said the price will go up in Europe as stockpiled cases of the whiskey are sold off in the next few months, the Associated Press reported.
Phil Lynch said consumers in Europe will see price hikes of about 10 percent.
About a fourth of Brown-Forman’s revenues are generated in Europe.
Now Europeans will either pay 10% more or they’ll drink something else because of Trump’s trade war. Which really makes a prevailing point about tariffs in that they are nothing more than a tax on consumers. We’re the ones that take the brunt of these foolish tariffs.
Anytime you raise taxes on something, you see less of it. In this case, Jack Daniels may see a decline in their EU sales because of it, which means they might take a hit too.