The United States threatened the European Union with tariffs on EU imported goods, worth up to $4 billion. However, it is unknown when, or even if, these tariffs will be imposed. The US is the largest foreign market in the world for Scotch whiskey by value and the second largest by volume.
A spokesperson for the Scotch Whisky Association said: “Exports of Scotch whiskey to the US have been zero tariff for 20 years, so it is disappointing that Scotch whiskey has been drawn into this dispute. There is a close relationship between the US whiskeys and Scotch whiskey, not least due to the use of bourbon casks for maturation which generates around £70m for the US economy each year. We continue to urge the UK government, the EU and the US government to resolve this situation.”
The Distilled Spirits Council of the United States pointed out that this move could harm both consumers and jobs in the US. Spokesperson Lisa Hawkins said: “We strongly oppose the inclusion of distilled products in the proposed retaliation list. US companies – from farmers to suppliers to retailers – are already being negatively impacted by the imposition of retaliatory tariffs by key trading partners on certain US distilled spirits. These additional tariffs will only inflict further harm.”
Scotch whiskey accounts for 12% of the overall whiskey market that is sold and consumed in the United States.
Related: US-China Trade War: America to Expect Inflation Caused by Raised Tariffs
Comment Template