Brown-Forman CEO Lawson Whiting criticized Canada's response to US tariffs by pulling American alcohol from shelves, calling it 'worse than a tariff.' Following the US's implementation of a 25% tariff on Canadian imports, Canadian provinces began removing US-made alcohol from stores. This action has raised concerns as it directly impacts sales, particularly for Brown-Forman, which only derives around 1% of its sales from Canada. The company also reported a decline in net sales and income over the last quarter.
The Liquor Control Board of Ontario (LCBO) has been directed to stop imports and sales of US-made alcohol in retaliation for US tariffs, which is considered a disproportionate response.
Brown-Forman CEO Lawson Whiting called Canada's action, removing US alcohol from shelves, 'worse than a tariff,' noting it directly harms their sales significantly.
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