The maker of Jack Daniel\u2019s may be in need of a drink. Brown-Forman Corp. will have to raise prices for American whiskey sold in the European Union following the implementation of a 25 percent tariff, according to spokesman Phil Lynch. The higher prices, which he said will primarily impact Jack Daniel\u2019s, will translate to about a 10 percent increase at the customer level. \u201cA 25 percent tariff does not translate into a 25 percent increase on the price of a bottle of Jack Daniel\u2019s,\u201d Lynch said in a telephone interview. Due to advanced shipment in Europe, price increases will roll out over the next couple of months and market-by-market, he said. Brown-Forman, which also makes bourbons including Woodford Reserve, fell to the lowest level in nearly seven months Monday. \u201cWe believe that we are positioned fairly well to withstand the tariffs, but only time will tell how consumers will react in the EU,\u201d Lynch said in an email. Although Europe is a large market for the company, Lynch noted that it sells Jack Daniel\u2019s in more than 170 countries around the world, with the U.S. being its largest market. \u201cOf course, it would be far better for all American whiskey companies if this trade dispute between the U.S. and the EU ends before the price increases on Jack Daniel\u2019s take effect over the next few months,\u201d he added. Goldman Forecast Goldman Sachs Group Inc. analyst Judy Hong trimmed her projections for the company\u2019s earnings per share by 4 percent to 5 percent for both the current and next fiscal year due to the tariffs. Her revised estimates take into account the levies imposed by the EU as well as Mexico, she said Monday in a note to clients. Hong said the company is likely to cut its own profit and sales-growth guidance when it reports in August. The EU last week triggered the first phase of retaliation against the U.S. over its metal-import tariffs, making good on more than three months of threats to hit iconic American goods with tit-for-tat levies. The European Commission in Brussels gave final approval for a 25 percent duty on 2.8 billion euros ($3.2 billion) of EU imports of a range of U.S. products including Harley-Davidson Inc. motorcycles, Levi Strauss & Co. jeans and whiskey. While President Donald Trump has repeatedly claimed that the U.S. can easily win trade wars, victims are starting to pile up at home and abroad. Daimler AG, the maker of Mercedes-Benz luxury vehicles, warned last week that escalating tension between the U.S. and China will impair earnings from its Alabama sport utility vehicle plant and lower profit this year. Harley-Davidson said it plans to shift some production of its motorcycles out of the U.S. in response to retaliatory EU levies. On-Ground Inventory Louisville, Kentucky-based Brown-Forman said earlier this month it was too soon to accurately forecast future sales growth with so much uncertainty surrounding the tariffs, but said at the time it was trying to mute the impact by building up inventories in markets outside of the U.S. Brown-Forman has moved more product to France, Spain, Germany and Poland, where it has its own distribution network, it said earlier this month. \u201cIn markets where we don\u2019t own our own distribution, it\u2019s the local distributor whom we sell our own product to - they will make the decision on whether or not to increase the price on the product that they purchased from Brown-Forman and then sell into the retail level,\u201d Lynch said Monday. Shares fell 3 percent in New York to $48.30 on Monday, the lowest level since Nov. 30.