Constellation Brands CEO Bill Newlands revealed that President Donald Trump’s immigration policy is negatively impacting the company’s beer sales, particularly among Hispanic consumers. Roughly half of Constellation’s beer sales come from this demographic, accounting for 78% of its total revenue in the fiscal fourth quarter. Concerns about job losses and economic impact are driving these consumers to reduce their spending on restaurants, clothing, and travel. Although beer is not at the top of their concerns, it is among the affected areas as social gatherings decline. The company’s disappointing forecast for 2026 was attributed to the new tariffs, including a 25% aluminum tariff on its imported Mexican beer.
Source: https://www.cnbc.com/2025/04/10/modelo-owner-constellation-says-trump-immigration-policy-hitting-beer-sales.html