• Economy
  • Investing
  • Editor’s Pick
  • Stock
Evil Shark Trades
Stock

Ontario to remove U.S. alcohol from shelves after Trump’s tariffs announcement

by February 3, 2025
by February 3, 2025

Ontario will pull all American alcohol from its government-run liquor shelves beginning Tuesday in response to U.S. President Donald Trump’s 25% tariffs on Canadian imports.

Outlets of the Liquor Control Board of Ontario will also take U.S. products out of its catalog so other retailers can’t order or restock those items, according to a Sunday statement by Premier Doug Ford.

“Every year, LCBO sells nearly $1 billion worth of American wine, beer, spirits and seltzers. Not anymore,” Ford said. “There’s never been a better time to choose an amazing Ontario-made or Canadian-made product.”

Ford’s announcement came just hours after Canadian Prime Minister Justin Trudeau slapped retaliatory tariffs of 25% against $155 billion of U.S. goods.

The LCBO is one of the largest wholesalers of alcohol, selling more than 1.1 billion liters of alcohol products in Ontario in 2023. According to the Observatory of Economic Complexity, Canada primarily imports hard liquor from America with an estimated $320 million in sales. The U.S.’s second main export destination for liquor as of October 2024 is Canada, with a $25.9 million trade value, according to the OEC.

In a statement provided to CNBC, the LCBO said it will be stopping all sales of U.S. alcohol products online and in stores “indefinitely,” adding that it is the “importer of record” for all American alcohol into Ontario. LCBO currently lists more than 3,600 products from 35 U.S. states, the statement added.

The move follows other similar Canadian premiers’ announcements of retaliation to the tariffs, including Nova Scotia Premier Tim Houston directing the Nova Scotia Liquor Corporation to remove all American alcohol from their shelves on Tuesday and British Columbia Premier David Eby directing the BC Liquor Distribution Branch to “immediately stop buying American liquor from “red states” and remove the top-selling “red-state” brands from the shelves.”

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
USAID closes HQ to staffers Monday as Musk says Trump supports shutting agency down
next post
Chris Wright, Trump’s pick to lead Energy Department, faces confirmation vote Monday in Senate

You may also like

NBA star Russell Westbrook launches AI-enabled funeral planning...

Judge allows lawsuit over Burger King’s Whopper ads...

Amazon’s Zoox robotaxi unit issues software recall after...

Rite Aid files for second bankruptcy in two...

Skechers to be acquired by 3G Capital in...

Fortnite applies to launch on Apple’s App Store...

Cargo thieves are attacking the U.S. supply chain...

Krispy Kreme stock plunges after doughnut chain pauses...

UnitedHealthcare sued by shareholders over reaction to CEO’s...

AMD CEO calls China a ‘large opportunity’ and...

NBA star Russell Westbrook launches AI-enabled funeral planning...

Judge allows lawsuit over Burger King’s Whopper ads...

Amazon’s Zoox robotaxi unit issues software recall after...

Rite Aid files for second bankruptcy in two...

Skechers to be acquired by 3G Capital in...

Fortnite applies to launch on Apple’s App Store...

Cargo thieves are attacking the U.S. supply chain...

Krispy Kreme stock plunges after doughnut chain pauses...

UnitedHealthcare sued by shareholders over reaction to CEO’s...

AMD CEO calls China a ‘large opportunity’ and...

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Fortnite applies to launch on Apple’s App Store after Epic Games court win
    • Trump’s ‘Art of the Deal’ diplomacy just delivered a global win—without a shot fired
    • Trump vows to increase trade with India, Pakistan after praising ceasefire agreement: ‘A job well done!’
    • FBI Deputy Director Bongino: Illegal alien criminals and child predators are next in ongoing crackdown
    • Trump inks trade deal with UK, previews China trade negotiations during 16th week in office

    Categories

    • Economy (5,762)
    • Editor's Pick (3,862)
    • Investing (2,826)
    • Stock (1,270)
    Email Whitelisting About Us Terms & Conditions Privacy Policy Contact Us

    Disclaimer: Evilsharktrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EvilSharkTrades.com


    Back To Top
    Evil Shark Trades
    • Economy
    • Investing
    • Editor’s Pick
    • Stock