The American Whiskey Industry Is Getting A Much Needed Boost
The whiskey industry in the United States has entered a turbulent era marked by layoffs, declining sales, shifting consumer preferences, and an uncertain global marketplace. The announcement last week that industry darling Westward Distilling, one of the pioneers in the fledgling American Single Malt Whiskey movement, had filed for bankruptcy protection is a prime example. However, amid these difficulties, there lies an exciting industry that is helping to upend the discussion around whiskey worldwide.
Nowhere is this more evidenced than by the decision by the International Wine and Spirits Competition (IWSC), one of the world's oldest and most prestigious spirits competitions, to return to the United States for a second straight year to judge North American whiskies. Their team of highly respected judges will blind taste-test hundreds of American whiskies in Bardstown, Kentucky, from June 7-10, 2025. They will announce their results for the Best American Whiskies on June 16, 2025. The winners will go on to compete for the title of World's Best, which will be announced November 12, 2025, in London.
Coming to America again only makes sense to Dawn Davis, the head of whiskey judging for the IWSC and the person leading the American judging team. "I think we've only just scratched the surface of what American whisky can offer and the amazing liquid that its distillers are turning out," said Davies. "That's why we are here again to shine a spotlight on what is happening here and to help introduce it to the rest of the world. Outside of brands like Jack Daniels, Makers Mark, Buffalo Trace, and a few others, the world really doesn't know about all the amazing liquid being produced in America.'
Dawn Davis MW, the head buyer for The Whisky Exchange and the leader of the IWSC worldwide whisky judging team.
Shining a spotlight on America's whiskey couldn't come at a better time. After riding a wave of homegrown growth for over a decade, reaching a high point in production in 2022 when Kentucky distillers produced a record 2.7 million barrels, sales have softened. Growth has gone into negative territory, hitting -2% in 2024, according to a report from IWSR, and the current Trump tariffs are threatening the export market crucial for future growth.
While the massive growth in its craft distilleries has infused the U.S. market with innovation, it has also led to saturation, confusion for consumers, and increased difficulties for distillers in maintaining profitability. It resembles the craft beer market in many ways.
According to Davis, one of the key ways for brands to move forward successfully is to go back to the basics. They need to focus on telling consumers why their whiskey deserves attention and dollars. Sustainability, authenticity, and production techniques resonate with younger consumers and will help drive sales. Instead of rolling out fancy marketing programs, brands should educate drinkers about what makes their liquid special. That's where the IWSC and other respected judging competitions can help.
"It's a tough landscape for whisky distillers worldwide right now with the economic uncertainty and shifting consumer preferences," said Davies. "It is forcing the industry, especially in the United States, to adapt and get back to the basics of telling their story to drinkers and justify to them why they should reach for their bottle. Winning awards at events like IWSC can help brands break into new markets and influence buyers to bring in their whiskies."
Like last year, the IWSC will award gold and double gold medals across a variety of categories to North American distillers, with the highest-scoring bottles named the best. As expected, one of the strongest categories will be bourbon, with rye and blended whiskies also garnering significant attention. But it will be the American single malt category that both excites and worries Davis the most. As the first new whiskey category to be federally recognized in America in 52 years, it became official on December 18, 2024; it is almost completely unknown both inside and outside the United States.
"I think it's an unfortunate time for American single malt because it should be having its moment in the market, but the economic pressures are making it difficult for many distillers to thrive. Last year, we were introduced to some pretty amazing liquid that would thrive on the world stage," said Davis. "The potential is there, but the industry needs to ensure that these spirits receive the attention and appreciation they deserve."
The event is famous for unearthing often overlooked bottles for drinkers to grab. Last year, Coors Spirit Co, yes, that Coors, took home the top award in blended whisky while industry leader Bulleit grabbed the rye whisky award. But tiny Kentucky Peerless Distilling Company's victory in the bourbon category for its Toasted Kentucky Straight Bourbon Whiskey, which bested some well-known bottles, really turned heads. Thirteen-year-old Virginia Distilling Company showed the world what American single malt whiskey brings to the table.
For an industry in flux, the IWSC returning to Kentucky couldn't have happened at a better time. Hopefully, it will help distillers and an American whisky scene that is poised to take its place on the international stage.
Follow here for the most up to date information about the ever changing beer, wine, and spirits industry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
6 minutes ago
- Los Angeles Times
Trump's broad tariffs go into effect, just as economic pain is surfacing
WASHINGTON — President Donald Trump began levying higher import taxes on dozens of countries Thursday, just as the economic fallout of his monthslong tariff threats has begun to create visible damage for the U.S. economy. Just after midnight, goods from more than 60 countries and the European Union became subject to tariff rates of 10% or higher. Products from the EU, Japan and South Korea are taxed at 15%, while imports from Taiwan, Vietnam and Bangladesh are taxed at 20%. Trump also expects the EU, Japan and South Korea to invest hundreds of billions of dollars in the U.S. 'I think the growth is going to be unprecedented,' Trump said Wednesday afternoon. He added that the U.S. was 'taking in hundreds of billions of dollars in tariffs,' but he couldn't provide a specific figure for revenues because 'we don't even know what the final number is' regarding tariff rates. Despite the uncertainty, the Trump White House is confident that the onset of his broad tariffs will provide clarity about the path of the world's largest economy. Now that companies understand the direction the U.S. is headed, the Republican administration believes they can ramp up new investments and jump-start hiring in ways that can rebalance the U.S. economy as a manufacturing power. But so far, there are signs of self-inflicted wounds to America as companies and consumers alike brace for the impact of new taxes. What the data has shown is a U.S. economy that changed in April with Trump's initial rollout of tariffs, an event that led to market drama, a negotiating period and Trump's ultimate decision to start his universal tariffs on Thursday. Economic reports show that hiring began to stall, inflationary pressures crept upward and home values in key markets started to decline after April, said John Silvia, CEO of Dynamic Economic Strategy. 'A less productive economy requires fewer workers,' Silvia said in an analysis note. 'But there is more, the higher tariff prices lower workers' real wages. The economy has become less productive, and firms cannot pay the same real wages as before. Actions have consequences.' Even then, the ultimate transformations of the tariffs are unknown and could play out over months, if not years. Many economists say the risk is that the American economy is steadily eroded rather than collapsing instantly. 'We all want it to be made for television where it's this explosion — it's not like that,' said Brad Jensen, a professor at Georgetown University. 'It's going to be fine sand in the gears and slow things down.' Trump has promoted the tariffs as a way to reduce the persistent trade deficit. But importers sought to avoid the taxes by importing more goods before the taxes went into effect. As a result, the $582.7 billion trade imbalance for the first half of the year was 38% higher than in 2024. Total construction spending has dropped 2.9% over the past year. The economic pain isn't confined to the U.S. Germany, which sends 10% of its exports to the U.S. market, saw industrial production sag 1.9% in June as Trump's earlier rounds of tariff hikes took hold. 'The new tariffs will clearly weigh on economic growth,' said Carsten Brzeski, global chief of macro for ING bank. The lead-up to Thursday fit the slapdash nature of Trump's tariffs, which have been variously rolled out, walked back, delayed, increased, imposed by letter and frantically renegotiated. The process has been so muddled that officials for key trade partners were unclear at the start of the week whether the tariffs would begin Thursday or Friday. The language of the July 31 order to delay the start of tariffs from Aug. 1 only said the higher tax rates would start in seven days. Trump on Wednesday announced additional 25% tariffs to be imposed on India for its buying of Russian oil, bringing its total import taxes to 50%. A top body of Indian exporters said Thursday the latest U.S. tariffs will impact nearly 55% of the country's outbound shipments to America and force exporters to lose their long-standing clients. 'Absorbing this sudden cost escalation is simply not viable. Margins are already thin,' S.C. Ralhan, president of the Federation of Indian Export Organizations, said in a statement. The Swiss executive branch, the Federal Council, was expected to hold an extraordinary meeting Thursday after President Karin Keller-Sutter and other top Swiss officials returned from a hastily arranged trip to Washington in a failed bid to avert steep 39% U.S. tariffs on Swiss goods. Import taxes are still coming on pharmaceutical drugs, and Trump announced 100% tariffs on computer chips. That could leave the U.S. economy in a place of suspended animation as it awaits the impact. The president's use of a 1977 law to declare an economic emergency to impose the tariffs is also under challenge. The impending ruling from last week's hearing before a U.S. appeals court could cause Trump to find other legal justifications if judges say he exceeded his authority. Even people who worked with Trump during his first term are skeptical that things will go smoothly for the economy, such as Paul Ryan, the former Republican House speaker, who has emerged as a Trump critic. 'There's no sort of rationale for this other than the president wanting to raise tariffs based upon his whims, his opinions,' Ryan told CNBC on Wednesday. 'I think choppy waters are ahead because I think they're going to have some legal challenges.' Trump is aware of the risk that courts could overturn his tariffs, prompting him to say on his Truth Social platform: 'THE ONLY THING THAT CAN STOP AMERICA'S GREATNESS WOULD BE A RADICAL LEFT COURT THAT WANTS TO SEE OUR COUNTRY FAIL!' The stock market has been solid during the recent tariff drama, with the S&P 500 index climbing more than 25% from its April low. The market's rebound and the income tax cuts in Trump's tax and spending measures signed into law on July 4 have given the White House confidence that economic growth is bound to accelerate in the coming months. Global financial markets took Thursday's tariff adjustments in stride, with Asian and European shares and U.S. futures mostly higher. Brzeski warned: 'While financial markets seem to have grown numb to tariff announcements, let's not forget that their adverse effects on economies will gradually unfold over time.' As of now, Trump still foresees an economic boom while the rest of the world and American voters wait nervously. 'There's one person who can afford to be cavalier about the uncertainty that he's creating, and that's Donald Trump,' said Rachel West, a senior fellow at The Century Foundation who worked in the Biden White House on labor policy. 'The rest of Americans are already paying the price for that uncertainty.' Boak writes for the Associated Press.
NBC News
8 minutes ago
- NBC News
Tariffs on dozens on countries take effect and Kremlin confirms Trump-Putin meeting: Morning Rundown
Sweeping tariffs on dozens of countries have taken effect. A doctor fears that a rift with UnitedHealthcare could bankrupt her clinic. And a conservative community fights to keep a beloved teacher from being deported. Here's what to know today. Trump's tariffs take effect, affecting everything from food to cars from around the world After months of threats, delays and extensions, President Donald Trump's sweeping tariffs took effect overnight, raising the overall average tariff rate to more than 17%, its highest since the Great Depression. Everything from European Union appliances and Japanese cars to food, furniture and toys from China TVs from South Korea will be hit. However, selected oil and gas imports, along with some smartphones and goods covered by a pre-existing trade agreement with Canada and Mexico, are not affected. Trump has indicated his trade offensive won't stop. The president said he still plans to impose import taxes on pharmaceutical products and semiconductors. Amid that pressure, Apple said it plans to invest $600 billion in the U.S. over the next four years amid pressure from Trump to shift its supply chain to American soil. Meanwhile, Trump hiked the tariff rate for India to 50% because of the nation's purchases of Russian oil, and he said he could raise the European Union's tariff level to 35% from 15% if it reneges on an investment commitment. The Trump administration has already insisted tariffs are working, pointing to billions raised in new monthly revenues for the federal government. While the White House says nations have pledged hundreds of billions of dollars in investments, it hasn't released details of how that money will be spent. While the full effect of the tariffs is yet to be felt, the U.S. economy appears to be on much shakier ground than at the start of the year. Price growth has continued to pick up, employment growth in manufacturing has flatlined and other non-manufacturing sectors are feeling the pinch. The Kremlin said Thursday that a meeting between presidents Donald Trump and Vladimir Putin has been agreed in principle and will happen in the 'coming days,' teeing up their first in-person encounter of Trump's second term. At the same time, Moscow all but dismissed Trump's proposal for a three-way summit involving Putin and Ukrainian President Volodymyr Zelenskyy, continuing the Kremlin's longstanding resistance to such a sit-down. Trump's efforts are part of his campaign promise to resolve Russia's war in Ukraine, and his wider 'America First' pledge to end involvement in foreign conflicts altogether. 'At the suggestion of the American side, an agreement in principle was made to hold a bilateral meeting at the highest level in the coming days,' Putin's longtime foreign policy aide, Yury Ushakov, said in an audio idea of a Trump-Putin-Zelenskyy meeting 'for some reason was mentioned by Washington yesterday' but 'not specifically discussed,' Ushakov said. The Russian side had 'left this option completely, completely without comment.' The Trump administration is currently still set to impose secondary sanctions on Russia this week, despite a meeting yesterday between U.S. special envoy Steve Witkoff and Putin. An administration official said secondary sanctions 'are still expected to be implemented on Friday.' Zelenskyy said he spoke to Trump after Witkoff's meeting and reiterated the country's insistence on defending its independence. Putin's longtime foreign policy aide, Yury Ushakov, said the talks were 'very useful and constructive,' adding that Russia has 'forwarded some signals ... on the Ukrainian issue.' Read the full story here. More politics news: As the fight in Texas over redistricting plays out, take a look at who draws congressional maps and how they do it. Also, review how nearly a decade of Supreme Court rulings have given states more redistricting power. National Intelligence Director Tulsi Gabbard declassified a document on Russia's 2016 election interference with relatively minimal redactions despite objections from CIA officials. Trump said he's considering a federal takeover of Washington, D.C.'s local police force. The Trump administration is scaling back the State Department's annual Human Rights Report, which is widely read around the world. A Republican running to succeed Mitch McConnell is leaning into the same anti-establishment sentiment that sent JD Vance from the private sector to the vice presidency. Texas surgeon fears insurance dispute may force her into bankruptcy Dr. Elisabeth Potter said she was midway through performing a breast reconstruction surgery when she got a call from a UnitedHealthcare representative who wanted to talk about the patient on the table. During the call, Potter said the representative wanted more information on why the patient needed an overnight hospital stay, even though the surgery had been approved. 'If they can ring me in the operating room, not for something urgent, just for that, and to ask me to justify her staying overnight ... we have lost our way,' Potter said in a TikTok video that has racked up nearly 6 million views. Potter said UnitedHealthcare denied coverage for the hospital stay. An insurance spokesperson said the stay was approved but there was an error with a separate request. Now, Potter believes UnitedHealthcare is retaliating against her because of her social media posts but not allowing her clinic in Austin, Texas, to join their in-network list of providers. Without being able to accept UnitedHealthcare patients in network — the second biggest player in the market, according to the Texas Department of Insurance — Potter said she likely won't be able to stay in business. Experts say the dispute is one example of ongoing tension between insurers and health care providers. Potter's dispute, in particular, comes as UnitedHealth Group comes under intense scrutiny. A new CDC report is the first to provide estimates about how much ultra-processed foods make up Americans' diets. It's more than half. A federal prison camp in Texas where Ghislaine Maxwell was transferred has increased security measures in response to her arrival. And while there, Maxwell will be barred from participating in a puppy training program. The Trump administration has suspended $584 million in federal grants for UCLA, the first public university whose funding has been targeted over allegations of civil rights violations. Scientists want to stop AI from turning evil. Their solution? Teaching the models some bad behavior. I am endlessly fascinated by the stories of people dealing with the effects of major political decisions, such as the overhaul to America's immigration policy. I was especially interested in this incredible story from Daniela Pierre-Bravo about a Haitian immigrant who has become a beloved fixture in his Ohio community, where 83% of voters backed Trump last year. Science teacher Marc Rocher saw serious violence in Haiti. After a close friend was kidnapped and killed was the final straw, he left for the U.S., finding his way to Putnam County under temporary protective status. While it may be a reliably Republican corner of the state, Putnam County's church-goers, students and community members realized that losing Rocher to the country's immigration policies, which they helped put in motion as Trump voters, would mean losing a pillar of the community. Now, the pastor of a conservative church is standing up for Rocher. High school students are sending letters pleading with DHS Secretary Kristi Noem to let him stay. And a family with adopted Haitian children say Rocher has helped their sons heal from the trauma inflicted in their home country. To them, Rocher puts a human face on a polarizing political issue. — Michelle Garcia, NBC BLK editorial director NBC Select: Online Shopping, Simplified NBC Select has been testing fitness trackers for years now, and these are their favorites from Apple, Oura, Garmin and Fitbit. Plus, the brand On has a wide range of sneakers, but which are the right ones for you? We created a handy guide compiled our favorite On sneakers and apparel. here.
Yahoo
23 minutes ago
- Yahoo
US is auctioning a seized $325M Russian yacht with 8 state rooms, a helipad, a gym and a spa
WASHINGTON (AP) — The United States is auctioning off the $325 million yacht Amadea, its first sale of a seized Russian luxury ship since the start of Moscow's invasion of Ukraine. The auction, which closes Sept. 10, comes as President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The U.S. has said it's working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their yachts seized, to try to compel him to stop the war. The 348-foot-long (106-meter-long) yacht, seized three years ago and currently docked in San Diego, was custom built by the German company Lürssen in 2017. Designed by François Zuretti, the yacht features an interior with extensive marble work, eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and an elevator. It accommodates 16 guests and 36 crew members. Determining the real ownership of the Amadea has been an issue of contention because of an opaque trail of trusts and shell companies. The yacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based in the Cayman Islands. The U.S. contends that Suleiman Kerimov, an economist and former Russian politician, who was sanctioned by the U.S. in 2018 for alleged money laundering, owns the yacht. Meanwhile, Eduard Khudainatov, a former chairman and chief executive of the state-controlled Russian oil and gas company Rosneft, who has not been sanctioned, claims to own it. U.S. prosecutors say Khudainatov is a straw owner of the yacht, intended to conceal the yacht's true owner, Kerimov. Litigation over the true ownership of the yacht is ongoing. A representative of Khudainatov said in an emailed statement Wednesday that the planned sale of the yacht is 'improper and premature' since Khudainatov is appealing a forfeiture ruling. 'We doubt it will attract any rational buyer at fair market price, because ownership can, and will, be challenged in courts outside the United States, exposing purchasers to years of costly, uncertain litigation,' said the representative, Adam Ford. The yacht has been virtually untouched since the National Maritime Services took custody of it in 2022. To submit a sealed bid on it, bidders must put in a 10 million euro deposit, the equivalent of roughly $11.6 million, to be considered. Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $325 million. 'Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds, and any shortfall from fair market value, once we prevail in court," Ford said. A U.S. aid package for Ukraine signed into law in May 2024 gave the U.S. the ability to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv, which was attacked by Russia in February 2022.
