Spirits Producers Turn to New US Administration to End Trade War
The alcohol industry, among many others, is lying in wait to see how the newly established Biden Administration will handle the trade war initiated by his predecessor. The alcohol trade war under the previous presidential administration caused a 39% drop in imports of Scotch to the US and an additional 41% plunge in exports of American whiskey to the EU, according to DISCUS. And if nothing is changed, the EU’s tariff on American whiskey will automatically increase to 50% in June if disputes on steel and aluminum are not resolved.
With that in mind, 72 US and EU trade associations sent a formal letter to President Biden and the president of the European Commission, Ursula von der Leyen, asking for the immediate suspension of all tariffs unrelated to ongoing steel, aluminum, and aircraft disputes.