Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / China US trade tensions

    Whiskey makers fear trade war consequences

    By Zhang Ruinan in New York | China Daily | Updated: 2018-05-02 09:26
    Share
    Share - WeChat
    A man fills and seals barrels of Woodford Reserve bourbon whiskey at the company's distillery in Versailles, Kentucky.[Photo/Agencies]

    US whiskey makers say they see great demand and rapid growth in China, but right now, they also see both being hurt if China imposes a 25 percent tariff.

    "All US whiskey makers are looking to China," said Paul Hletko, founder of Few Spirits, a craft distillery based in Evanston, Illinois. "If the tariffs take... effect, it will have a negative impact on US whiskey exports, it will slow down the growth of this market with great potential if not eliminate it. I'm talking with my Chinese distributors and we are monitoring the situation closely."

    "We've been exporting to China for about two years, and about 50 percent of our business is in Shanghai," Hletko said, adding most of the exported products are bourbon and rye.

    Last month, the Chinese Ministry of Commerce said it plans to impose the 25 percent tariff on $50 billion worth of US exports. The action is a direct response to the Trump administration's list of about 1,300 Chinese exports-also worth about $50 billion annually-that it intends to target with 25 percent tariffs.

    Total imports of US spirits by China in 2017 were valued at $12.8 million; of this, $8.9 million was whiskey, said Frank Coleman, senior vice-president of the US Distilled Spirits Council, in an email to China Daily. "American spirits exports to China have grown by almost 1,200 percent from $959,000 in 2001."

    China's overall market was worth $611.5 million in 2016, according to the latest data from wine and spirits analytics firm IWSR, with Scottish whisky imports taking up virtually all of the market. US whiskey imports are in second place but growing rapidly.

    "The US exports about $1.5 billion worth of spirits abroad, and many producers in America are pinning their future growth to exports," Reid Mitenbuler, author of The Bourbon Empire: The Past and Future of America's Whiskey, told CNBC. "From my conversation with spirits companies, China represents a huge potential market," Mitenbuler said.

    The US-based liquor conglomerate Brown-Forman, which owns the Jack Daniel's brand as well as Old Forester and Woodford Reserve, names the US as "the most important market", and it describes China as an "emerging market."

    The US Distilled Spirits Council said in a statement that "we strongly supported China's entry into the World Trade Organization in 2001. This resulted in a dramatic reduction in China's tariffs on US spirits, from 65 percent to 10 percent ad valorem. In addition, China last year further lowered its tariffs on whiskeys and brandies to 5 percent ..."

    "Chinese consumers, like others around the globe, are clearly finding favor with the flavor, heritage and mixability of American whiskey. It would be a shame to punish consumers, along with the Chinese hospitality sector, as an unintended consequence of this trade dispute," according to the statement. "We hope the US and China can soon resolve their differences without subjecting US whiskey exports to China to a 25 percent tariff, which will harm Chinese consumers, its hospitality sector and US whiskey exporters."

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    最近中文字幕mv免费高清视频8| 无码毛片视频一区二区本码| 无套内射在线无码播放| 一二三四社区在线中文视频| 精品无码人妻一区二区三区品| 亚洲国产中文v高清在线观看| 亚洲av无码一区二区三区人妖| 亚洲av无码不卡| 中文字幕无码成人免费视频| 日韩欧群交P片内射中文| 久久中文精品无码中文字幕| 日韩AV无码精品人妻系列| 无码人妻精品中文字幕免费东京热| 日韩中文字幕免费视频| 中文日韩亚洲欧美字幕| 性无码专区| 亚洲AV无码成人精品区大在线| 国产爆乳无码视频在线观看| 无码h黄动漫在线播放网站| 亚洲午夜国产精品无码老牛影视| 亚洲精品欧美二区三区中文字幕| 天堂在线中文字幕| 暖暖免费在线中文日本| 暖暖免费日本在线中文| 亚洲一区二区中文| 中文www新版资源在线| 欧美日韩中文在线| 久久亚洲精品中文字幕| 曰韩中文字幕在线中文字幕三级有码 | 久热中文字幕无码视频| 娇小性色xxxxx中文| а√在线中文网新版地址在线| 超清中文乱码字幕在线观看 | 波多野结衣中文字幕在线| 亚洲精品无码永久中文字幕| 熟妇人妻VA精品中文字幕| 亚洲精品中文字幕乱码三区 | 亚洲国产无套无码av电影| 亚洲成a人片在线观看无码专区| 亚洲av无码精品网站| 国精品无码一区二区三区在线|