Squawk Pod
Shutdown Showdown & Michter’s Whiskey on EU Tariffs 12/20/24
Dec 20, 2024
Sen. Markwayne Mullin, a Republican Senator from Oklahoma, tackles the looming government shutdown and the intense negotiations in Congress. CNBC's Emily Wilkins updates listeners on the political turmoil in D.C. as bipartisan plans emerge. Meanwhile, Joe Magliocco, CEO of Michter's Distillery, shares insights on the potential 50% tariffs on whiskey exports to the EU and how this could reshape the industry amidst changing consumer habits favoring premium spirits. Tune in for a mix of politics and whiskey!
39:49
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Quick takeaways
- The looming government shutdown highlights deep political divisions within Congress, particularly among House Republicans resisting bipartisan funding measures.
- Michter's Whiskey faces potential 50% EU tariffs, prompting the industry to adapt strategies and address shifting consumer trends toward quality and cannabis use.
Deep dives
Government Shutdown Looms
A potential government shutdown is imminent as House Republicans face a midnight deadline to pass a spending bill, but tensions arise from infighting over funding strategies. The latest proposal, which includes $110 billion in disaster relief, faces pushback from both fiscally conservative Republicans and Democrats due to its added provisions and implications for the debt ceiling. The blame game is already underway, with both parties preparing to point fingers should a shutdown occur. Such a shutdown could severely impact federal employees, particularly around the holiday season, raising concerns about the government's functioning and employee compensation.
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