Maker of Jack Daniel's worried about impact of trade war

The maker of Jack Daniel's says tariffs are making it difficult to plan for the future.The co...

Posted: Jun 6, 2018 8:23 PM
Updated: Jun 6, 2018 8:23 PM

The maker of Jack Daniel's says tariffs are making it difficult to plan for the future.

The company, Brown-Forman, reported strong revenue and profit growth for the fiscal year that ended in April, and expects to report more gains ahead.

But it said competition in the developed world, coupled with "potential retaliatory tariffs on American spirits" means that it's "difficult to accurately predict future results."

US bourbon is one of the products targeted by foreign governments in retaliation for the Trump administration's tariffs on steel and aluminum imports from the EU, Mexico and much of the rest of the world.

Related: What aluminum and steel tariffs will mean to you

Mexico on Tuesday levied a 25% tariff on bourbon. Canada and the EU have threatened to slap tariffs on bourbon and American whiskey as soon as July.

"It is necessary and urgent to impose measures equivalent to the measures implemented by" the US, said the statement issued by the Mexican government. Mexico had signaled last week that it intended to retaliate against the US steel and aluminum tariffs.

The list of products that Mexican is imposing tariffs specifically includes Tennessee whiskey, as well as bourbon. While Jack Daniel's is sometimes popularly referred to as bourbon, that name derives from Bourbon County, Kentucky, while Jack Daniel's is made in Tennessee. Thus the label of Jack Daniel's describes itself as Tennessee whiskey, not bourbon.

Brown-Forman said that 53% of its sales come from outside the United States. The United Kingdom, Germany, France, and Poland account for about 18% of sales between them. Mexico by itself accounts for 5% of sales.

The threat of retaliatory tariffs by US trading partners is a major reason that the US Chamber of Commerce says that 2.6 million jobs are threatened by the Trump administration's hardline stance on imports. According to a survey of US CEOs, many are scaling back their hiring and spending plans due to fears of a trade war.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 259117

Reported Deaths: 5668
CountyCasesDeaths
DeSoto17331186
Hinds16373328
Harrison13731199
Rankin10854217
Jackson10557187
Lee8922141
Madison8335166
Jones6483112
Forrest6038120
Lauderdale5965187
Lowndes5425118
Lafayette503193
Lamar490865
Washington4826124
Bolivar4024109
Oktibbeha397681
Panola374680
Pontotoc369855
Monroe3591105
Warren3569100
Union348063
Marshall347769
Neshoba3413152
Pearl River3329103
Leflore3059107
Lincoln299386
Sunflower288271
Hancock282559
Tate274362
Alcorn267454
Itawamba265260
Pike264679
Scott250847
Prentiss248252
Yazoo247356
Tippah244450
Copiah243949
Coahoma242254
Simpson238368
Leake232966
Grenada220671
Covington215072
Marion215073
Adams207870
Wayne203232
Winston202667
George201939
Newton195044
Attala194659
Tishomingo191661
Chickasaw185744
Jasper174438
Holmes169168
Clay161335
Tallahatchie148235
Stone145921
Clarke141762
Calhoun137621
Smith122725
Yalobusha119134
Walthall112836
Noxubee111423
Greene111029
Montgomery110136
Carroll105321
Lawrence103217
Perry102831
Amite98826
Webster93924
Tunica87421
Claiborne86625
Jefferson Davis85827
Benton83323
Humphreys83324
Kemper78420
Quitman6969
Franklin67115
Choctaw61213
Wilkinson58825
Jefferson55419
Sharkey44017
Issaquena1596
Unassigned00

Alabama Coronavirus Cases

Cases: 429655

Reported Deaths: 6283
CountyCasesDeaths
Jefferson63040956
Mobile30794557
Madison27486201
Tuscaloosa20996268
Montgomery19352315
Shelby18833120
Baldwin16653184
Lee12749102
Morgan12389119
Etowah11861176
Calhoun11292201
Marshall10290113
Houston8746156
Limestone813276
Cullman8125106
Elmore7999104
DeKalb776599
Lauderdale768698
St. Clair7651121
Talladega6309108
Walker5954174
Jackson586341
Colbert539873
Blount537683
Autauga525755
Coffee450456
Dale402981
Franklin369948
Russell340711
Chilton338966
Covington332668
Escambia326043
Dallas308896
Chambers293170
Clarke287833
Tallapoosa2641107
Pike255230
Marion248953
Lawrence246649
Winston229535
Bibb218847
Geneva205446
Marengo202829
Pickens197531
Hale179542
Barbour176036
Fayette172928
Butler170858
Cherokee161930
Henry156523
Monroe149818
Randolph142135
Washington139126
Clay127645
Crenshaw121544
Cleburne119023
Lamar119021
Macon118637
Lowndes112036
Wilcox105121
Bullock101128
Perry99019
Conecuh95720
Sumter89626
Greene76623
Coosa61015
Choctaw51624
Out of AL00
Unassigned00
Tupelo
Partly Cloudy
47° wxIcon
Hi: 52° Lo: 45°
Feels Like: 45°
Columbus
Cloudy
48° wxIcon
Hi: 54° Lo: 46°
Feels Like: 48°
Oxford
Partly Cloudy
43° wxIcon
Hi: 50° Lo: 43°
Feels Like: 43°
Starkville
Cloudy
46° wxIcon
Hi: 54° Lo: 45°
Feels Like: 46°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather