JALISCO, Mexico (NBC) – Mexican exporters of tequila are worried about possible slumping revenues and job losses because of threatened U.S. tariffs on all imports from the country.
Multiple tequila industry insiders say privately that some companies have even been rushing to export as much as they could ahead of a Monday deadline.
Though most of this year’s inventory is likely already in the United States, so the biggest impact would be on next year’s supply.
Mexico exported more tequila than ever before in 2018, more than 222 million liters to 120 countries, according to the director of the tequila regulating council.
82% of that went to the U.S.
Consumers are the ones most likely to absorb the brunt of the tariffs as sellers raise prices, though some importers could decide to eat some of the cost.