On Saturday, President Trump signed an executive order imposing 25% tariffs on all imports from Mexico and Canada and a 10% tariff on imports from China. Negotiations on these tariffs are ongoing, and a deal was reached earlier today with Mexico to delay their implementation by a month. However, tariffs on Canada and Mexico are expected to significantly impact the beverage alcohol industry if implemented.
Adriana McKinnon, Director of Logistics at Park Street, sat down with us and shared some strategies that beverage alcohol brands can use to mitigate the impact of potential tariffs. These include diversifying sourcing, utilizing free trade zones, and engaging in advocacy.
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