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Benzinga
Benzinga
Business
Mohd Haider

Trump's EU Tariffs Could Cost US Alcohol Industry $2 Billion, 25,000 Jobs Ahead of Holidays, Say Industry Groups

United States European Union Alcohol Donald Trump
Hershey,,Pa,-,December,15,,2016:,President-elect,Donald,Trump,Waves

The US alcohol industry is urging President Donald Trump to reduce tariffs on alcohol imports from the European Union (EU) before the holiday season, warning of a potential $2 billion loss in sales and 25,000 job cuts.

What Happened: According to a Business Insider report, major US alcohol producers have sent a letter to the White House, appealing for a reduction in tariffs. The letter, sent by an alcohol association, highlights the potential impact of the tariffs on the industry.

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