Americans are drinking less than they have in decades. While a long-term cultural shift toward moderation is very real, the immediate cyclical indicators — meaning the regular ebbs and flows — are all pointing down. And Trump is nudging them in that direction. The amount of alcoholic beverages consumed across major markets declined by 2% in 2025, according to data from drinks data company IWSR. In the United States, volumes were down by 5%. Consumption of beer, wine, and spirits all fell. (The only bright spot: ready-to-drink cocktails, which are getting more popular.) A lot of what's going on here isn't about Gen Z being teetotalers or American adults being spooked about alcohol causing cancer — it's about the economic and political environment. People are drinking less because of the ongoing affordability crisis. The Trump administration's aggressive immigration policies have had a chilling effect on Hispanics' consumption. All the tariff whiplash has been far from fun for the alc...