Jack Daniel’s Warns It Could Become “An Unfortunate And Unintended Victim” Of Trump’s Tariffs
by Tyler Durden
ZeroHedge.com
Fri, 03/09/2018
The maker of Jack Daniel’s Tennessee Whiskey is emerging as an unlikely opponent of President Trump’s protectionist tilt.
During a phone call with analysts on Wednesday, Paul Varga the chief executive of Brown-Forman Corp. confirmed that the European Union’s threats of retaliatory tariffs against “distinctly American products” is rattling leaders of the American business community.
Brown-Forman, the maker of Jack Daniels Tennessee Whiskey, could become “an unfortunate and unintended victim of the policy,” Varga warned.
“The overwhelming majority of our products are made here in America and over the last few years, I’d just cite, we’ve been investing heavily in our American manufacturing expansion.”
After Trump surprised markets by announcing his plans to impose the aluminum and steel tariffs late last week, the EU fired back on Monday by threatening to impose tariffs on (a relatively modest) €2.8 billion ($3.5 billion) of American goods, with Brussels aiming to apply a 25% tit-for-tat levy on a range of consumer, agricultural and steel products imported from the US.
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