U.S. Distillers Celebrate End to Retaliatory Tariffs in E.U., Look to Make Up For Lost Revenue

U.S. Distillers Celebrate End to Retaliatory Tariffs in E.U., Look to Make Up For Lost Revenue

American distillers are optimistic after the U.S. and European Union announced a weekend agreement to end retaliatory tariffs on some products after whiskey exports previously plummeted from 2018 to 2020.

The tariffs were targeted on American whiskey and other U.S. products in response to former President Donald Trump's decision to impose tariffs on European steel and aluminum.

American whiskey exports to the European Union plunged from $702 million to $440 million between 2018 and 2020, a 37 percent decrease, according to the Distilled Spirits Council of the United States.