Many celebrate birthdays, Fridays, or “just because” with a glass of their favorite alcoholic beverage.
Tariffs could affect some of the booze coming in the U.S.
While President Trump has paused tariffs on most countries for 90 days, the talk of tariffs has put some local import and export businesses on edge.
A21 Wine and Spirits CEO Mark Newman said he’s anxious and worried, and so are his employees, since their business is heavily reliant on imported alcohol, including geographically unique ones, such as champagne, Tequila, Mezcal, and more.
Chapman University associate professor and economist Marshall Toplansky said tariffs could lead to more manufacturing jobs in the U.S.
“But if those jobs come at the expense of higher prices in the United States and greater inflation, the concern I have is that we will lose jobs in the service sector,” he said.
Toplansky said the administration aims to reach more free trade with these tariffs.
“We’ll see what happens. Historically, tariffs have never been associated with strong economic growth,” he said.