LOUISVILLE (LBF) -- Beam Suntory Inc., which owns Kentucky brands Jim Beam and Maker's Mark, is considering raising its prices in Europe.
The consideration comes after the European Union introduced tariffs on $3.3 billion in U.S. products in June, including a 25 percent increase on tariffs on American whiskey, according to The Spirits Business, a trade publication. Those new tariffs were retaliation for tariffs that President Donald Trump imposed on steel and aluminum imports into the U.S.
It's not clear in the report how much Jim Beam and Maker's Mark prices might rise in Europe. Officials at Louisville-based Brown-Forman Corp., owner of Jack Daniel's, also have said they are considering a price increase in Europe as a result of the tariffs.
Jim Beam and Maker's Mark are a few of Beam Suntory's largest American whiskey brands. The company is based in Chicago and is part of Japan-based Suntory Holdings Ltd.
