Jack Daniel’s Maker Blames Canada for Alcohol Removal, Calls it Worse Than Tariffs
Brown-Forman CEO Lawson Whiting described Canadian provinces’ removal of US liquor from shelves as a more damaging retaliatory measure than tariffs imposed by the Trump administration, despite Canada accounting for only 1% of the company’s sales. While Canada also levied a 25% tariff on US alcohol imports, Brown-Forman’s annual forecast accounts for these impacts, and the company’s stock rose 8% following the announcement. The company’s overall performance has been affected by decreased demand in the US, Canada, and Europe, although emerging markets show stronger sales. Despite these challenges and cost-cutting measures, Brown-Forman remains confident in its future prospects.
John Q. Hosedrinker