US spirits producers are cheering the end of the UK’s retaliatory tariffs on their bourbon
Retaliatory tariffs on over $500 million worth of US exports to the UK, including distilled spirits, various agricultural products, and consumer goods, have been lifted, the US Department of Commerce announced.
Chris Swonger, president, and CEO of the Distilled Spirits Council lauded the Biden administration for making it a priority to reset the relationship with the EU and UK, two of their most important allies and trading partners.
The Biden administration also cut deals to alleviate issues stemming from a trade dispute between the US and the E.U and the UK over respective subsidies to Boeing and Airbus which had resulted in tariffs on other U.S. spirits such as rum and vodka.
In 2018, the Trump administration placed tariffs on imports of both steel and aluminum, prompting the EU, which then included the UK, to respond with retaliatory tariffs.
The tariffs on bourbon were estimated to have cost the US whiskey industry hundreds of millions of dollars.
In November, the EU and the US negotiated a deal ending this trade dispute, but since the UK was now no longer part of the EU, another agreement had to be sorted out.


Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia
Justice Jackson Slams Supreme Court's Growing Use of Shadow Docket
Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles
Organon Stock Surges After Reports of $13 Billion Buyout Bid by Sun Pharma
European Car Sales Surge in March as EV and Hybrid Demand Accelerates
Gold Prices Rise Slightly but Head for Weekly Loss Amid Oil Surge and Inflation Fears
Japan Inflation Rises in March Amid Energy Price Surge and Middle East Tensions
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility
India-US Trade Talks Advance Toward $500 Billion Goal Amid Ongoing Negotiations
Mercedes-Benz Faces Rising Competition in China but Rejects Price War Strategy
SpaceX President Gwynne Shotwell Earns $85.8M as IPO Buzz Grows
US Dollar Weakens as Iran Talks Boost Risk Appetite in Forex Market
Bank of America's $72.5M Epstein Settlement: What You Need to Know
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe
$16B Michigan Data Center Project Boosts U.S. AI Infrastructure Expansion
Pentagon Defies Court Order on Press Access, Judge Rules
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 



