In response, the industry has pulled back production by more than 55 million proof-gallons (an industry unit of measurement) or more than 28% through August, the lowest level since 2018.

At the same time, exports have been curtailed to major trading partners; Canada has been boycotting American spirits since March in retaliation for President Trump’s ongoing trade war and U.S. whiskey sales to that country are down by more than 60% through October.