US Whiskey Industry Has Lost $300 Million in Revenue Due to Trump's Trade War, Report Says

Given everything that’s happened in the past few months, 2018 may feel like a lifetime away.But producers of American whiskey say they are still reeling from a decision made by the Trump administration in 2018.Yesterday marked two years since the European Union officially enacted a 25% tariff on U.S. goods.This was a retaliatory move after the Trump administration placed its own tariffs on European steel and aluminum.The E.U. tariff targeted some iconic American products to get its point across—including bourbon.As a result, the Distilled Spirits Council of the United States says exports to Europe are down 33%.And that drop may have cost the American Whiskey industry as much as 300 million dollars.Producers are worried that European buyers will lose interest in American whiskies if the tariffs drag on.And unfortunately, if things are not resolved by this time next year, the tariff is slated to increase to 50%