After the British government has announced their intention to cancel the 25% tariff imposed in 2018 on US goods in trans-Atlantic trade, e.g. whiskey, the decision has indeed come effective this June 1st, 2022.
President and the CEO of the Distilled Spirits Council of the U.S. (DISCUS) says “the long tariff nightmare” comes as great news for the distillers in the United States, and adds that the UK has long been the 4th largest export market for American whiskey.
An interesting fact is that the imposed tariffs for whiskey, jeans and peanuts came as a response of the UK to the taxes imposed during Trump’s administration on steel and aluminum imports from the European Union and UK, while nowadays the same tariff has been lifted of not only for whiskey, but also for wine and other spirits.
Finally, the representative of the “Toasts, Not Tariffs Coalition”, says the agreement is beneficial not only for distillers, but for a wider group of parties in the supply chain, including the distributors, farmers and vintners.