American whiskey makers face ‘more harm’ if tariff issue not resolved

Published 2021년 3월 15일

Tridge summary

The article highlights the ongoing impact of the 25% tariffs imposed by the Trump administration on steel and aluminum imports in 2018, which have led to retaliatory measures by the EU, including the doubling of duties on various American products like whiskey by June 1. These tariffs have significantly affected the export of American whiskey to the EU, with a 29% drop in 2019. Despite efforts to resolve the dispute amicably, particularly with the Biden administration and despite the potential harm to the whiskey industry, the tariffs remain due to their positive effect on job creation in industrial areas, creating a dilemma for Biden's team. Meanwhile, the hope remains for a resolution to the separate tariffs dispute over subsidies to Boeing and Airbus, which could lead to the removal of additional tariffs on spirits and other products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Back in 2018, Donald Trump slapped 25% penalties on imports of steel and aluminum, citing “national security” as his grounds for doing so. In retaliation the EU (of which Britain was then a member) imposed mirror duties on imports of iconic American goods including Bourbon and other American whiskey as well as jeans, orange juice, tobacco, peanut butter, yachts and Harley-Davidson motorbikes. Those tariffs are due to double on June 1, prompting Whiting to say: “The steel and aluminum dispute is still hurting American whiskey consumers, workers and companies on both sides of the Atlantic,” and that unless they are removed US distillers face “more harm”. US whiskey exports to the EU slumped by 29% in 2019, the latest figures available. The tariffs on American whiskey are separate from those imposed by Brussels on other American drinks as part of the long running tit-for-tat spat over subsidies to Boeing and Airbus. The EU and the Biden Administration agreed earlier this month to set ...

Source: Thedrinkbusiness