Trump trade war costing Kentucky bourbon industry | Political News
A Kentucky lawmaker has warned his state’s bourbon industry may face multi-million greenback losses as a outcome of US President Donald Trump’s trade war with Canada.
In response to Trump’s 25 p.c tariffs on Canadian items, a number of Canadian provinces began pulling American alcohol from their cabinets in March.
Rep. Morgan McGarvey (D-KY), chair of the Congressional Bourbon Caucus, instructed ABC News mentioned Trump’s trade insurance policies may have a devastating affect on Kentucky’s bourbon industry.
“With Kentucky, Canada is our largest trading partner,” he mentioned.
“We’re going to lose tens of millions of dollars in bourbon sales in Ontario province alone, not to mention the whole country, because of what Trump’s policies are doing.”
Trump met with Canadian Prime Minister Mark Carney at the White House on Tuesday. Asked if there was something Carney may inform him to carry his tariffs on Canada, Trump replied: “No.”
McGarvey mentioned Trump’s response was alarming.
“If you’re using tariffs as a negotiating tactic, but then you say there’s nothing you can do to get rid of it, that’s going to be problematic,” McGarvey mentioned.
Kentucky produces 95 p.c of the world’s bourbon provide. McGarvey mentioned Trump’s tariff insurance policies have been creating uncertainty for distillers.
“There was one week I was working with the bourbon companies in my district where, quite literally, on Monday, the tariffs were on. On Tuesday, they were off. On Wednesday, they were on. On Thursday, they were off again,” he mentioned.
During his assembly with Trump, Carney declared that his nation was “not for sale” after Trump repeatedly instructed making Canada the 51st US state. Trump hit back at Carney, saying “time will tell.”
Canadian voters outraged by Trump’s trade insurance policies and assaults on sovereignty helped Carney’s Liberal Party win final month’s election.
Canada is the highest export vacation spot for 36 US states, with nearly $3.6 billion $2.7 billion USD price of items and companies crossing the border every day.
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