Trade War Heats Up!

The trade war is escalating quickly as China has retaliated against Trump's trade regulations on over $34 billion of Chinese goods. Tariffs on Chinese goods went into effect Friday morning at 12:00am EST and China quickly countered with regulations of their own. A wider range of US goods will be impacted including vehicles, soybeans, beef, and other agricultural products. While it may take some time for the impact of these tariffs to be felt by US consumers, disruptions within supply chains and rising costs on pre-fabricated goods can be expected.

China, however, is not the only entity to recently impose tariffs on US goods.  The EU, Canada, and Mexico have all jumped on board to send the message to US political leadership. A recent example of that is the EU-imposed 25% tariff on whiskey and bourbon imports from the USA. This tariff which went into effect June 22, 2018, has the potential to cause the whiskey industry a serious financial blow and negatively impact small scale distillers around the country.

We will continue to monitor this situation and provide updates when applicable. As always, feel free to contact us with any questions or concerns.