February 23, 2026: Tariffs dancing again, Scotch whisky exports and other news
Trump’s tariffs, USDA promoting spirits exports, Scotch whisky figures, gin figures, French spirits exports, 2026 key-trends and more…
The Spirits Post is an international press review about the spirits industry brought to you by Eugenia Torelli, an Italian spirits journalist and judge. If this newsletter was forwarded to you by a friend, you can subscribe here to receive it directly in your inbox:
Hello everyone!
Before we dive into the headlines, I have some personal news to share: I have recently taken on the role of managing editor and spirits specialist at Falstaff Italia, the Italian branch of Austria’s oldest gourmet magazine. Falstaff is a leading publication in German-speaking countries and was launched in Italy in November 2024.
As a result, my collaborations with other national publications, such as Linkiesta, are currently suspended. However, I will continue to write for the two local monthly editions of Corriere della Sera (Northeast Italy and Bologna) covering bars and cocktails.
And, of course, this blog is safe!
Now, on to the news. We have a wealth of export reports to dive into, along with some significant developments in international trade.
Trump’s tariffs back in the spotlight after Supreme Court ruling
One of the biggest stories last week was the US Supreme Court ruling against Trump’s tariffs. In a 6-3 decision, the justices held that the president’s aggressive approach to global tariffs was not permitted under the 1977 International Emergency Economic Powers Act (IEEP).
However, despite this legal blow, the president has immediately announced new import duties on goods from all countries, ranging from 10% to 15%. This story is dominating the headlines; here are the articles I recommend for a full breakdown…
NBC News, by Lawrence Hurley:
Supreme Court strikes down most of Trump’s tariffs in a major blow to the president
Reuters, by Andrew Chung and John Kruzel:
CNN, by Auzinea Bacon
Trump announces global tariffs will increase to 15% from 10% ‘effective immediately’
The Guardian, by Lucy Campbell
I also highly recommend reading the story of Victor Schwartz, a small New York wine importer who risked his business to challenge these tariffs in court.
Article by Elisabeth Buchwald in CNN Business:
Meanwhile
USDA invests over $1 million to boost American spirits exports
The US Department of Agriculture (Usda) has awarded the Distilled Spirits Council of the United States (Discus) $1,076,152 via its Market Access Program. The funding is intended to promote American spirits in international markets throughout 2026, specifically targeting Germany, Poland, France, the UK, Japan, Taiwan, and Australia. To be eligible, products must be distilled from at least 51% US agricultural raw materials.
Article by Lauren Bowes in The Spirits Business:
Scotch whisky export figures for 2025: a mixed picture
The Scotch Whisky Association (Swa) has released its export data for 2025. While there are signs of stabilization, several challenges remain:
Total export value: Fell slightly by 0.64% (from £5.4bn in 2024 to £5.36bn in 2025). This is a significant improvement on the 3.7% drop seen the previous year.
The US market: Volume is down by 15%, largely attributed to the impact of tariffs.
India: Continues its impressive growth, now ranking as the third-largest market by value.
The EU: Remains the largest regional market by both value and volume.
France: While value dropped by 3.6% and volume by 14%, it remains the second-largest export market for Scotch.
Full details on the SWA website:
Scotch whisky exports to the United States down 15% since tariffs implemented
For an even deeper dive into bulk versus bottled exports, I recommend this analysis by Martin Purvis and Duncan McFadzean in Commercial Spirits Intelligence, here on Substack:
Is the storm passing? - 2025 Export volumes of Scotch Whisky
One in five Scotch distilleries under pressure according to BTG
According to the financial advisory and restructuring firm Begbies Traynor (Btg), 69 distilleries in Scotland and a further 217 across England, Wales, and Northern Ireland are facing financial difficulties.
A note on media literacy: When I started this blog, I promised to occasionally “pull back the curtain” on how industry communication works. This story is a perfect example of a press-office-led news cycle. You will see this exact data appearing across multiple publications simultaneously because it stems from a Btg press release.
By releasing these figures, the firm positions itself as a “thought leader” and a competent partner for businesses in distress. There is nothing inherently wrong with this—it is simply how professional communication works—but it is worth remembering that the “news” is also a marketing tool for the consultancy.
Read some of the coverage here:
Scottish financial news (no author mentioned):
One in five Scottish distilleries under threat amid global export slump
Lauren Bowes in The Spirits Business:
Global gin volumes slowing, but the category remains resilient
According to IWSR data cited in The Gin Guild’s 2025 Annual Report, gin volumes grew by 1% in the first half of 2025 across the top 20 markets, compared to 4% in 2024.
While Scotch has struggled in the US, gin performed strongly there in 2025, with volumes up 7% and value surging by 23.8% to £100 million. Emerging markets like the Philippines, China, Nigeria, and India are driving growth through traditional gin profiles, with India looking particularly promising following the UK-India trade agreement. Turkey also stands out as a top performer, with value up 28.1%.
You can read all the details on The Gin Guild’s official website:
France
French spirits exports fell by 17% in 2025
Figures from the Fédération des Exportateurs de Vins & Spiritueux (Fevs) show that exports of French wine and spirits fell by 8% last year. This was primarily driven by the US market, where sales plummeted by 21% due to tariffs.
Spirits were hit particularly hard, falling 17% in value to €3.7 billion. Exports to China also weighed on the results, dropping by 20%.
Article in Le Figaro (no author mentioned):
FEVS’s official website does not appear to have published their press release.
Here is another article reporting the news, for those of you who may prefer reading in English.
Nicola Carruthers’s article in The Spirits Business:
Something to read
Six key trends shaping the alcohol industry in 2026
Yes, it’s still that time of the year, when everybody wants to predict the market’s next 12 months. Sarcasm aside, market predictions are incredibly useful tools for keeping your eyes open to shifting patterns. The Iwsr has identified six key drivers for the year ahead:
Gen Z behaviour evolution
Affordability drives choice
Broad-based developing market growth
Experience and exploration in global travel retail
RTDs: a multi-trend touchpoint
Innovation’s increasing importance
Insights on the IWSR website:
Ebook here:
That is probably more than enough to digest for today!
I’ll see you again in a few days ;)