The Saxco family hopes you had a fantastic holiday filled with laughter, excellent food, and wine that continues through the end of the year. May Santa Claus bring you everything on your list and more. The whole industry is tentatively hopeful for solid holiday sales, yet there is a shadow of concern due to the potential imposition of tariffs in 2025. This looming threat could affect imported wines and essential materials such as bottles and boxes and possibly prompt retaliatory tariffs. For wine packaging, the threat of 25% tariffs on Mexico and Canada, as well as the potential 10% China tariff increase, could result in substantial increases in goods costs and demand for US glass manufacturing. We are already seeing an increase in the tightening of demand for domestic glass, increasing its lead time. We recommend you speak with your partners and know where they source your packaging goods in anticipation for any future changes in duties. While most things are stable, gas prices have