The CEO of Brown-Forman, Lawson Whiting, has criticized Canada’s decision to pull American-made spirits off its shelves due to President Donald Trump’s tariffs on Canadian imports. Whiting called the move “disproportionate” and argued that it would harm sales without affecting the company significantly.
Canada has removed US wines, beer, and liquor from store shelves, with provinces like Ontario saying they will continue to push for Canadian-made alternatives until further notice. However, Whiting noted that Brown-Forman’s sales in Canada account for just 1% of its total revenue, making it an insignificant loss.
The company is also awaiting a response from Mexico, which has faced similar tariffs, and will monitor the impact on its business there. The Distilled Spirits Council of the United States (DISCUS) has expressed similar discontent over the tariffs, stating that they would cause harm to US companies and employees.
This move comes as Brown-Forman faces declining sales in the spirits industry, which slowed down after a pandemic peak in 2020 through 2022. The company had previously reported a decline in whiskey sales, and Whiting’s comments suggest that tariffs are just another challenge it is facing. Despite this, Brown-Forman’s stock price rose 10% on Wednesday as investors anticipated the impact of tariffs on its outlook.
Source: https://edition.cnn.com/2025/03/06/business/jack-daniels-tariffs/index.html