Wine and spirits could get cheaper after the midterms. Here’s why
Booze brands are hopeful that help is on the way for their industry – and they need it. Tariffs and declining drinking habits have weighed heavily on beverage companies over the last two years, but changing control of Congress may signal near-term relief. The beverage market was apparently thirsty for some good news. Stocks of some beer, wine, and liquor brands perked up after election results…
The beverage industry is eagerly anticipating an improvement after the midterms, as tariffs and declining drinking habits have taken a toll on companies over the past two years. Stocks of beer, wine, and liquor brands surged following election results, with companies such as Diageo, Brown-Forman, Anheuser-Busch, Molson Coors, Boston Beer Company, and Constellation Brands experiencing gains.
Trump's tariffs have exacerbated the situation, resulting in a ban on almost $1 billion worth of imports from Canada, which includes alcoholic products. This ban is expected to significantly impact the Canadian beverage market, and alcoholic drinks make up the majority of these imports. Furthermore, American consumption of alcohol has been on a downward trend, with 54% of adults reporting that they drink in 2025, a decrease from the previous record low of 67% in 2022.
Consumer behavior has also adapted to the rising costs, with 65% of surveyed drinkers opting to "pre-game" at home to save money. The beverage industry is hoping for tariff relief as Democrats take control of Congress, aiming to remove the import ban on Canadian spirits and secure zero-for-zero tariffs on distilled spirits.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
