Trade reacts as US/EU whiskey tariffs dropped

Both parties have expressed their delight by Saturday’s announcement that the US and EU have agreed to lift retaliatory tariffs on American whiskey.

The tariffs were part of the steel and aluminium dispute settlement which was introduced under the Trump administration.

Co-founder of the Bourbon Alliance, Martha Dalton said: “We welcome this announcement and congratulate our colleagues on both sides of the Atlantic who have worked so hard to support our sector.

“The UK must now focus on reaching a similar resolution, working with colleagues in the US to finally remove the tariff which continues to cause such disruption to the UK economy. 

“When the UK left the Customs Union, we were promised the freedom to establish an independent trade policy – the time has come to realise the opportunities of Brexit and to cut the tariff for good.”

Meanwhile from a UK perspective, CEO of the Wine and Spirits Trade Association, Miles Beale added: “It is welcome news that the US and EU have made such significant progress on the steel and aluminium dispute and taken US whiskey producers out of the tariffs firing line. 

“The UK must now capitalise on this momentum without delay, suspend the tariffs, and quickly work with the US to resolve the dispute. At a time when the economy is in recovery from continued lockdown, it is vital that we move to support our UK spirits importers and the hard-hit hospitality industry at pace.”