Report: U.S., E.U. Close To Extending Suspension Of Tariffs On American Whiskies

With time ticking down to avert a scheduled 50% tariff on American whiskies entering the E.U. on January 1, the Financial Times reports that negotiators are close to extending the current suspension of tariffs, in a win for U.S. distillers. European trade commissioner Valdis Dombrovskis told the paper he expects the two parties to reach an agreement before the end of the year. The move is expected to result in an extension of the trade truce for 15 months.

The whiskey tariffs were retaliation for Trump-era levies on E.U. steel and aluminum imports to the U.S. American whiskey exports to the E.U. have surged back since tariffs were suspended in January 2022, up 29% last year and 91% through August of this year.—Daniel Marsteller

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