The Effects of Tariffs

Join us at the Cato Institute for a conversation on the complex and uncertain US tariff situation and the policies’ effects, especially for the American wine and spirits industries.In Kentucky, bourbon has long been a source of local pride and economic growth, contributing $9 billion annually and supporting 23,000 jobs. Similarly, the Virginia wine industry has exploded over the past 30 years, today accounting for $1.73 billion in annual sales and more than 10,000 jobs. These industries now face economic headwinds because of US tariffs on key production inputs, foreign retaliation against their exports, and weakened distribution channels here and abroad.The challenges faced by American wine and bourbon producers are emblematic of the issues American farmers and manufacturers in many other industries must now face. This discussion will offer unique insights, examining the legal, economic, and political challenges that tariffs present as well as alternative paths forward.There will be a tasting of a variety of domestic wines and bourbons immediately following the discussion. Hosted on Acast. See acast.com/privacy for more information.