Alcohol Industry Dodges Worst of Trump’s Tariffs — For Now

US alcohol companies breathed a sigh of relief after President Donald Trump’s tariff announcement turned out to be less damaging for them than feared.

In a Rose Garden speech on Wednesday, dubbed “Liberation Day,” Trump unveiled sweeping new tariffs on major importing countries. But analysts said the alcohol industry avoided the worst-case scenario – particularly since imports from Mexico and Canada remain relatively unaffected. That means spirits like tequila and Canadian whisky can still enter the US tariff-free under existing trade agreements.

This is a positive development for companies like Diageo, which sources just under half of its ...