Brown-Forman, the distilleries firm behind the iconic brand of Tennessee whiskey, reported a 59 per cent decrease in organic Canadian sales in its first quarter, which the firm linked to the trade war. (The Logic)

Talking point: The company based in Louisville, Ky., reported Thursday that organic sales in developed international markets,which exclude the impact of divestitures and foreign exchange, fell by nine per cent in the three months ending July 31. The steepest drop was in Canada, where most provinces have barred liquor commissions from selling U.S. alcohol since March. Canada imported less than $1.4 million worth of American whiskey, called bourbon, from the U.S. in June—an 81 per cent drop from June 2024. Wine, beer and spirits were also among the $30 billion worth of U.S. goods Canada hit with counter-tariffs. Those are set to end Sept. 1. “While we are encouraged by recent discussions, American spirits products have been off the shelf in Canada for months,” CFO Leanne Cunningham said on an earnings call.