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Brown-Forman (BF-B, BF-A), the parent company of Jack Daniel's Whiskey, recently announced a 12% workforce reduction due to a downturn in sales.
Distilled Spirits Council of the United States (DISCUS) CEO Chris Swonger joins Asking for a Trend to discuss the challenges and uncertainties the liquor industry is facing.
Swonger believes a resurgence is soon to come for the alcohol and hospitality industries under President-elect Donald Trump’s second term.
“We are looking forward to working with the Trump administration coming in" Swonger says, highlighting what this would be a major positive for the “bars, the restaurants, and the distilled spirits” businesses.
Swonger says in order to keep the American whiskey market booming "is to make sure that our trading partners don't impose tariffs on them." Swonger says he will work with the Trump administration, Mexico, Canada, and the EU to make sure they fully understand the "distinctive nature of distilled spirits products."
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Watch the video above to follow Swonger also highlight concerns over retaliatory tariffs on American whiskey and the broader impact on the spirits market.
To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
This post was written by Josh Lynch