Scotch whisky industry toasts Biden as US suspends trade tariffs
- Date: 05-Mar-2021
- Source: SkyNews
- Sector:Industrial
- Country:Middle East
Scotch whisky industry toasts Biden as US suspends trade tariffs
The Scotch whisky industry has welcomed a deal between the UK and US governments that has seen damaging tariffs, imposed by the Trump administration in 2019, suspended for four months.The 25% tariff fell under a range of European products targeted as part of a historical row over government subsidies given to European aerospace firm Airbus and to US plane-maker Boeing.
Just last month, the Scotch whisky sector said the penalty applied to single malt, in a dispute not of its making, had accounted for more than £500m of export losses.
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International Trade Secretary Liz Truss had led UK moves to get the tariffs on UK goods suspended
The suspension of the US tariffs, which also cover some other UK-made products including cheese, allows time for a permanent agreement to be reached following the UK's