Trump tariffs will lead to US brand boycotts, Jim Beam owner warns
Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldThe Japanese owner of Jim Beam and Maker’s Mark bourbon whiskies expects that some global consumers will boycott its American brands as part of a backlash against Donald Trump’s protectionist trade policies.Takeshi Niinami, chief executive of drinks giant Suntory Holdings, said it was planning on the assumption that its US brands would be “less accepted” because of the threat of tariffs and the “emotion” of consumers in major markets, including Europe. “We laid out the strategic and budget plan for 2025 expecting that American products, including American whiskey, will be less accepted by those countries outside of the US because of first, tariffs and, second, emotion,” he told the Financial Times in an interview.“Our plan is less export from the US to other countries like [in] Europe, Mexico and Canada.” He added: “We have to be more focused on the US to sell American whiskey.”The comments highlight how major corporations are adjusting to the combative trade policies of the Trump administration, as they seek ways to create stability and navigate an unpredictable White House.Suntory Holdings chief Takeshi Niinami: ‘If tariffs go to every corner of the world, then the US will be hurt the most’ More
