While US whiskey makers – especially craft – are excited by the news, it’s hard believing the same relief is being felt here in the UK.
On 1 June, the four-year-old tariff on American whiskies will come to an end, making US bourbon and rye 25 percent cheaper on UK shelves, according to Forbes.
The US Distilled Spirits Council ‘Toasts not Tariffs’ coalition said that since the imposition of the 25 percent retaliatory tariff on American Whiskeys in June 2018, exports to the UK, the U. spirits industry’s fourth-largest market, have declined by 42 percent, from $150 million to $88 million (2018-2021). With the removal of these tariffs on American Whiskey, no more retaliatory tariffs remain on US, UK and EU distilled spirits and wines.
The coalition said: “We deeply appreciate the administration’s steadfast focus on rebuilding relationships with our close trading partners and allies in the EU and UK. These significant agreements will benefit U.S. workers throughout the entire alcohol supply chain, including farmers, distillers, and vintners as well as those who distribute and sell the products at restaurants, bars and spirits and wine stores.”
The Toasts Not Tariffs Coalition consists of 50 U.S. trade associations representing the entire three-tier chain of the US beverage alcohol sector (i.e., at the producer, importer, wholesaler, retailer and on-premise levels) united in opposition to US, EU and UK tariffs on beverage alcohol products.
