Jack Daniel’s Tennessee Whiskey.
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U.S. whiskey distillers are breathing a sigh of relief as they will avoid a looming 50% tax on shipments to Europe.
The European Union said Tuesday it would extend the suspension of tariffs on U.S. whiskey until March 31, 2025. The 50% levy, which came in the context of a broader steel and aluminum dispute between the U.S. and the European bloc, was set to take effect in the new year.
“For the past two years, the United States and European Union have been engaged in critically important negotiations,” said U.S. Trade Representative Katherine Tai, who oversaw the deal. “Our goal is to forge a forward-looking arrangement that will allow us to join forces economically to incentivize fair and clean production and trade in the steel and aluminum sectors.”
American whiskey makers found themselves in the middle of a trade dispute that started in 2018 after former President Donald Trump imposed tariffs on steel and aluminum. The EU responded with…
2023-12-20 11:59:02
Post from www.cnbc.com
