27 May American Bourbon Avoids Tariff
As part of ongoing tariff discussions, the EU has confirmed that American whiskey will not be subject to the 50% tariff initially proposed as a response to the US tariff on European steel and aluminium.
The decision to omit whiskey was in response to Trump’s threat of a 200% tariff on European wines and spirits in the face of the Bourbon tariff, which would have cost the EU drinks sector up to AUD$2.8 billion in lost exports.
Across the globe, the American spirits industry has welcomed the news as previous tariffs placed on American whiskey in 2018 saw exports drop by 20% from $552 million in 2018 to $440 million in 2021.
These decisions have brought welcome relief to both sides of the globe as the EU works to finalise their revised tariff list which is expected to be approved by member states in the coming weeks.
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