President Donald Trump's signature tariff policy appears to have caused sales of a staple American spirit to collapse as trade relations between the U.S. and other countries deteriorate, according to a new report.
CNN reported on Monday that sales of American spirits to Canada crumbled by 85% during the second quarter of the year, citing figures from the Distilled Spirits Council of the United States. One of the spirits most hurt by the tariffs is American single malt whiskey, according to the report.
Several business owners told the outlet that they feel like they're stuck in the middle of a fight they didn't pick.
Virginia Distillery CEO Gareth Moore told CNN that he anticipated his business tripling. After Canadian officials called on Canadian businesses to boycott American products, sales have "collapsed to zero," Moore said.
“This was all about some ugliness that we’re not part of,” Moore told the outlet. “We’re not in politics. We’re just some guys in Virginia making good whisky. But unfortunately, we’re the victims.”
The tariffs have also hurt businesses with ties to Europe, according to the report.
Jeff Quint, founder and CEO of Cedar Ridge Distillery in Swisher, Iowa, told CNN that he had to abandon the European market because of Trump's tariffs. The business's sales to Canada have also dried up, Quint added.
“You hate to invest in a market for two to three years – and then have to bail out of it,” Quint told CNN.
Read the entire report by clicking here.
