Jack Daniel’s Maker Cuts Profit Forecast on Trade War Impact

The trade war is having a tangible impact on the maker of Jack Daniel’s. Brown-Forman Corp. lowered its profit forecast for the fiscal year, saying it assumes that the European Union’s tariffs, put in place in June, will remain throughout the period. While first-quarter earnings and sales topped analysts’ estimates, “the competitive landscape in the developed world remains intense, and recently enacted retaliatory tariffs on American whiskey have created additional uncertainty around the company’s near-term outlook,” Brown-Forman said in a statement.