Scotch whisky industry trying to keep Trump tariffs from going higher
The U.S. imposed a 25% duty on Scotch whiskey and liqueurs in October
Representatives from the world of Scotch Whisky are coming to the U.S. to discuss import tariffs.
The concern is that import tariffs may go higher, according to London's Daily Mail.
The U.S. imposed a 25 percent duty on Scotch whisky and liqueurs in October after two decades of tariff-free trading.
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The Office of the US Trade Representative is reviewing the current tariff rates.
Meetings have been arranged with senior representatives from the US departments of trade, commerce and agriculture.
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Prime Minister Boris Johnson has already said that once the UK leaves the EU, tariffs will be removed on U.S. whiskey.
The Scotch Whisky Association's CEO Karen Betts will meet this week with key stakeholders to discuss the import tariffs.
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The concern is a domino effect. Tariffs increase product prices, impact sales, investment, jobs, taxes and ultimately the economy.
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The U.S. imposed tariffs on $7.5 billion in exports from the EU including scotch whisky, French wine, cheese and aircraft in retaliation for subsidies given to the aerospace group Airbus.