145 - Are Bourbon Tariffs a Threat? With Economic Professors Conor Lennon and Keith Teltser

Bourbon Pursuit

Hobbies, Food, Leisure, Arts

4.8 • 926 Ratings

🗓️ 19 April 2018

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

The threats of a global trade war have been looming over the past few months. Sparked by an EU attempt to lower the tariff on steel imports, they targeted American products such as peanut butter and bourbon. What sort of economic impact would a bourbon tariff have on exports to other countries? How does that trickle back into Bardstown, KY and the growing market? Does it even matter? On this episode, we are joined by University of Louisville's Economic Professors, Conor Lennon and Keith Teltser, to explain the intertwined global economy and the effect a tariff has from the bourbon producers to the grain suppliers. Show Notes: How did you all get into bourbon? Explain what is a tariff? This all started as a retaliatory effort from the EU as an opposition to the US putting tariffs on imported steel. Can you give some more information to set the scene? Could this be a much ado about nothing? Could something actually never happen? Is big European growth even a target? Does the tariff even have an effect when you look at the abundance of the excise tax? When people say "Alright! More bourbon in America!" is that even a sentiment that should be encouraged? Or is that narrow-minded? What protection do you not like about Bourbon from a economist's perspective? There isn't a shortage of bourbon on the shelf. Are there other markets that haven't been tapped? Who has the biggest dog in the fight? Brown-Forman with Jack Daniels? What are those other aspects we haven't touched on that this impacts? Voters? Constituents? What other countries could remove their tariffs to bring more imported goods there? You all find the secondary market much more entertaining The academic work on bourbon prices over the last 3-4 years is on Conor's site. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So our colleagues are going to watch, they'll never have watched your show.
0:05.0	But like, so you might get a few more people and then they'll watch this and then we either come across this idea.
0:11.0	Well, if we come across this idiots, maybe we can just blame the bourbon.
0:14.0	That's true, that's true.
0:16.0	Hey, people are we're back with a great new episode today, but as usual, we've got a lot of news to go through, and this is some big highlights.
0:33.4	You know, we've been talking about it, about Bourbon and Beyond, and the bands have finally been announced.
0:38.7	There's Lenny Kravitz, John Mayer, Cheryl Crowe, Sting, and of course, somebody that you truly love,
0:45.1	Bourbon Pursuit will be there as well.
0:47.3	Yes, we're going to be there moderating two different of the workshops.
0:50.3	One is a favorite where we talk about the rarest whiskey in the world, which is private barrel selections.
0:55.8	We're going to be joined by Larry Rice of the Silver Dollar, Danny Wimmer, the founder of Bourbon Beyond,
1:01.2	Drew Colesveen, who knows he needs no introduction from Willett, and Jane Bowie, the Master of Maturation of Maker's Mark.
1:08.3	The other session that we're taking care of and that we're moderating is called
1:11.4	the Audacity of Source Whiskey, and this is featuring Smooth Amblers John Foster, Boone County's
1:17.0	Josh Quinn, and Castle and Keys, Marianne Barnes. For anybody that wants to come and see this venue,
1:23.7	get more information on the festival. Tickets will be on sale April 20th, so start
1:28.5	making your travel plans now. Visit berbiton beyond.com, and you can also get more information
1:34.0	by listening to them mid-roll on today's podcast. As we had mentioned last time, Patreon
1:39.6	shipments are going out, and they're going to continue to go out this week as well, and before
1:43.9	long, we're going to actually start shipping out in March. So we're going to continue to go out this week as well. And before long,
1:44.2	we're going to actually start shipping out in March. So we're going to be on a continual train
1:47.3	of getting this shipping frenzy taken care of. Now, some more information on today's show.
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