Donald Trump has created a mess with his tariffs, and we’re starting to see evicence across various industries.

The spirits industry in the U.S. is facing all sorts of challenges. Young people are drinking much less alcohol. The post-Covid booze boom has subsided. And there’s a ton of supply. One executive in the beer business told me this is the worst year of his 35-year career.

The recent news from Jim Beam has certainly rattled people. The company is pausing production of its flagship bourbon product for all of 2026! That’s a real punch in the gut.

The Wall Street Journal Editorial Board doesn’t mince words as they place blame squarely and Trump an dhis tariffs. Even as some tariffs are lifted, the damage has been done. Canadians hate him and gleefully avoid American products. So it’s much more than a simple cost issue. It’s a destruction of the American brand. It will be interesting to see how this starts to manifest in other industries.

Anyone interested in the stability of the world economy can’t be happy with the Brexit mess. David Cameron took a political risk and it blew up in his face, while also offering a modern lesson of why Alexander Hamilton and James Madison were skeptical of letting the passions of the majority rule in any given moment.

Meanwhile, Donald Trump offered up a typical, idiotic and self-centered response.

President Obama surprised just about everyone yesterday with the announcement that the United States would be normalizing relations with Cuba. The embargo will remain in place as that can only change through an act of Congress, but the President acknowledged what everyone knows – after 50 years the embargo has to go.

Despite cries from some on the right and some politicians who are beholden to the older Cuban-American community, most support changing our policy towards Cuba. If we can work and trade with Vietnam and China, we certainly can bring our relationship with Cuba into the 21st century.

Naturally, many in the business community are very excited by the possibility of doing business there, and lovers of Cuban cigars are looking forward to smoking them legally here in the United States.