Trump plans 25% tariffs on tequila and Canadian whisky on first day in office

President-elect Donald Trump announced he will impose 25% tariffs on tequila and Canadian whisky starting on his first day in office. He claims this action addresses issues related to illegal immigration and drugs from these countries. The tariffs could raise prices for consumers and may lead to retaliatory tariffs on American whiskey. The Distilled Spirits Council expressed concern, noting that the U.S. imported $4.6 billion worth of tequila last year and $537 million in Canadian spirits. Trump also plans a 10% tariff on all goods from China. The impact of these tariffs on the spirits industry and potential retaliatory measures from Canada and Mexico remains uncertain.