U.S. spirits exports reach record high

Published 2024년 2월 29일

Tridge summary

The American Spirits Export Report for 2023 shows a growth in US spirits exports, reaching $2.2bn, an 8% increase from the previous year. American Whiskeys, which make up 63% of all US spirits exports, saw a 9% increase to $1.4bn. This growth comes after the industry's recovery from tariffs previously imposed by the EU and UK. Notably, American Whiskey exports to the EU surged by over 60% in two years. However, a potential threat looms as the EU may reimpose a 50% tariff on American Whiskeys if no agreement is reached by March 31, 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The American Spirits Export Report, released by the Distilled Spirits Council of the United States, show that US spirits exports totaled $2.2bn in 2023, up 8% compared to the previous year. American Whiskeys, which account for 63% of all US spirits exports, increased by 9% over 2022 to reach a record $1.4bn. The US spirits industry – along with its counterparts in the EU – have suffered for years as collateral damage to disputes in the aircraft and steel aluminum industries. Tariffs were imposed on American Whiskeys by the EU and UK in July 2018, and began to be lifted in 2021. A clear decline was seen over this period (down from $1.8bn in 2018 to $1.4bn in 2020) before rising again to today’s $2.2bn. “This latest report shows that U.S. exports are continuing to rebuild after plummeting from the devastating retaliatory tariffs on American spirits imposed by the EU and UK,” explained Rob Maron, DISCUS vice president of international trade, as the organization released the 2023 ...

Source: Beveragedaily