Datawiz, SteveR and all the other scotch drinkers can celebrate 🥃🥃🥃
https://nypost.com/2021/06/17/scotch...ly-us-tariffs/
LONDON — Scotch single malt whisky makers breathed a sigh of relief Thursday after the United States agreed to suspend tariffs on one of Scotland’s main exports following the resolution of a long-standing trade row between the U.S. and the EU over subsidies to aircraft companies Boeing and Airbus.
President Donald Trump imposed the 25% tariffs in October 2019 as part of the trade dispute over aerospace subsidies. While the U.K. no longer is an EU member, it belonged to the bloc when the tariffs were introduced.
Earlier this week, the U.S. and the EU reached an agreement to end their dispute, paving the way for a 5-year suspension of tariffs both sides had put on an array of products, including olive oil and cheese, as well as whisky.
The Scotch Whisky Association estimated that the tariffs contributed to a 30% fall in total exports to the U.S., equivalent to around 600 million pounds ($850 million) in the 18 months to March 2021.
“This deal removes the threat of tariffs being re-imposed on Scotch whisky next month and enables distillers to focus on recovering exports to our largest and most valuable export market,” Karen Betts, the association’s chief executive, said.