Wednesday, 25 October 2023

Eu’s war on American Whiskey heats up

Written by Redazione

It’s been five years since American Whiskey was slapped with a 25% retaliatory tariff from the EU, making it collateral damage in an unrelated Trump-era trade dispute. This caused a sudden and dramatic decline in U.S. Whiskey exports to Europe, which had been powering the industry’s remarkable growth over the preceding years. 

Distillers breathed a sigh of relief two years ago when the Biden Administration negotiated a temporary suspension of the tariffs. But that suspension is now set to lapse if negotiators don’t reach another agreement by the end of October. Worse, if a deal is not reached, the tariffs won’t just come back at 25%—they’ll double to 50%.

American whiskey exports to the EU were up 118% in the first half of 2023 compared to the same period in 2022. These numbers would have been far higher if the uncertainty of the tariffs wasn’t holding so many other distillers back.

U.S. distillers are urging the Biden administration to secure the permanent removal of these tariffs. The clock is ticking. Trade representatives from the U.S. and EU are set to meet during a summit in Europe on October 20th to discuss the matter, but there is no guarantee a deal will be struck in time.

More information here: European Union’s War on American Whiskey Heats Up | RealClearWorld

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