Brown-Forman (BFA), which also owns Woodford Reserve, Finlandia and other wine and liquor brands, explained during an earnings call on Wednesday that it is planning to raise prices in many European markets because of increased costs from tariffs. But it held off on increases throughout Europe on hopes that trade tensions would improve and because of high competition in the liquor market. Rivals that make liquor in their local markets are not subject to tariffs, because they don't import their products. But in other parts of the world, trade tensions are heating up. In the United States, the tariffs are expected to increase the prices of a number of goods.

Source: CNN August 29, 2018 17:03 UTC