China To Move Forward With Tariffs On American WhiskeyJune 19, 2018
China has joined the list of countries imposing new tariffs on American whiskey, making the move in response to the Trump administration’s new tariffs on $50 billion worth of Chinese goods. China now plans to impose a 25% tariff on American whiskies—as well as electric cars, soybeans, orange juice, cigars, and other products—beginning July 6. While China remains a small market for American whiskies, with imports worth about $6 million last year, the new tariffs threaten to stunt growth just as the American whiskey renaissance increasingly spreads overseas. China’s tariffs on American whiskies follow similar moves by Mexico, Canada, and the European Union, all of which are also hiking levies in retaliation for new steel and aluminum tariffs raised by the Trump administration.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Tariffs