Brown Forman, the maker of Jack Daniel's liquor, warned investors after some Canadian officials reacted to U.S. President Donald Trump's tariffs by pulling American booze from the shelves.
CEO Lawson Whiting gave the warning in a post-earnings call Wednesday, according to The Globe And Mail.
"I mean, that's worse than a tariff, because it's literally taking your sales away, (and) completely removing our products from the shelves," Whiting said.
The liquor CEO called the decision not to sell Jack Daniel's and other U.S. products a "disproportionate response."
On Tuesday, Canada responded to Trump's 25% tariff by also imposing a 25% tariff on U.S. goods. Mexico has also vowed to retaliate for Trump's 25% tariff on Mexican goods.
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Whiting said that Canada and Mexico made up about 8% of Brown Forman's sales and cautioned about "continued uncertainty and headwinds in the external environment."
The CEO, however, expected the company to withstand the hit to its sales.
