Alcohol and Beverage Industry

Jim Beam is shutting down production at its main distillery in Clermont, Kentucky, for at least a year amid a slump in alcohol consumption, a glut of aging bourbon and international tariffs that have sharply cut exports, especially to Canada and the European Union. Industry experts and Kentucky officials say U.S. whiskey exports to the EU have fallen about 27%, Canadian retailers have pulled many American spirits in response to U.S. trade policy, and distillers are paying taxes on more than 16 million barrels aging in the state as demand softens, with Rep. Morgan McGarvey, D-Ky., blaming Trump‑era tariffs for deepening the downturn.