Trump to scrap 10% tariff on Irish whiskey, lifting US distillers

RegulationPrice Action
โดย Seeking Alpha·USIE·Read original
Summary · why it matters

President Trump announced he will reverse the 10% tax on imported Irish whiskey, sending shares of American distillers higher on Monday. Speaking at the close of the Irish Open golf tournament and ahead of the holiday season, Trump said, "On behalf of the United States of America, I am going to take the tariffs off," though he did not discuss the timing of the action. The tariff had been lowered from 15% to 10% in July, after the president in April lifted the tariff on certain UK whiskeys, including those produced in Scotland and Northern Ireland, leaving the Republic of Ireland with a 10% export tariff on whiskey shipped to the U.S. According to the Irish Whiskey Association, the U.S. represents roughly 30% of Irish whiskey exports. Shares of Brown-Forman, Constellation Brands and MGP Ingredients trended higher at Monday's open, though they surrendered some of the opening gains, as opening U.S. trade to imports from the Republic of Ireland gives U.S. distillers reciprocal export access to Ireland.

Impact on stocks 3

Consumer Staples▲ · 3 stocks
Brown-Forman Corporation
BF-B
▲ PositiveTariffrelevance

Trump's reversal of the 10% Irish whiskey tariff gives Brown-Forman reciprocal export access to Ireland, lifting US distillers' shares.

MGP Ingredients Inc
MGPI
▲ PositiveTariffrelevance

Removal of the Irish whiskey tariff opens reciprocal export access to Ireland for US distillers like MGP Ingredients.

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