By John Smith •
Published: 04 Mar 2021 • 14:31
Karen Betts of the Scotch Whisky Association
ONE quickish concession following the election of Joe Biden as US President has seen a four-month suspension of the 25 per cent tariffs imposed by Donald Trump on the import of Scotch Whisky.
Amongst other exports also now allowed into the US tariff free are cheese, pork, cashmere and machinery.
It comes in response to the suspension of UK tariffs on certain goods effective from January 1, 2021 when Britain ceased to be part of the European Union.
The argument and tit for tat measures came about as the US Government was accused of giving financial support to Boeing and Europe of giving support to Airbus.
The matter will still have to be resolved between the UK and US in the long term but in a joint statement, the UK and the US said that the suspension would “ease the burden on industry and take a bold, joint step towards resolving the longest running disputes at the World Trade Organization”.
Karen Betts, head of the Scotch Whisky Association, said the industry has lost around £500 million (€550 million) in export sales to the US in the 16 months that the tariffs were in place and welcomed the news.
The USA in particular is worried about the possible emergence of new companies producing aircraft from countries such as China which could cause serious competing to Boeing so therefore wants to resolve disputes with the UK to ensure solidarity.
In the meantime, the European Union will have to consider its position, possibly with a view to helping finding a settlement beneficial to both Airbus and Boeing.
Thank you for taking the time to read this news article “USA to allow Scotch Whisky back in without additional tariffs”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
Currently he is acting as Editorial Consultant for the paper helping to shape its future development.
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Interesting that the US concentrated on Scottish products but didn’t target Irish whiskey or Italian Cashmere! Totally wrong and provided an advantage to other markets. Sanctions, however base, should be applied unilaterally.
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