Slàinte Mhath! Biden Admin Trade Deal With UK Suspends 25% Tariffs on Scotch Whisky
Added 03-05-21 12:34:02am EST - “President Joe Biden's administration has reached a trade deal with the UK that eliminates a 25 percent tariff on a variety of British-made goods, including Scotch whisky.” - Mediaite.com
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Slàinte mhath! to American aficionados of Scotch whisky. (That’s “Cheers” or “Good health,” if you’re not familiar with Scots Gaelic, pronounced “SLAN-ge-var.”) Here’s the reason for the toasting: President Joe Biden’s administration has reached a trade deal with the U.K. that suspends a 25 percent tariff on a variety of British goods, including British-made Airbus airplane parts, edible items like biscuits and clotted cream, and that delightful fermented concoction of malted barley known as Scotch whisky.
The tariffs were originally imposed as a retaliatory measure during the administration of former President Donald Trump, related to a long-running dispute over European Union aid to Boeing and Airbus. Eliminating them has been a top priority for U.K. Prime Minister Boris Johnson, both to strength the U.K.-U.S. trade relationship and bolster their economy post-Brexit.
“From Scotch Whisky distillers to Stilton-makers, businesses across the U.K. will benefit from the U.S. decision today to suspend tariffs in this dispute,” said Johnson. “It shows what the U.K. can do as an independent trading nation, striking deals that back our businesses and support free and fair trade.”
According to the Boston Globe, “Britain dropped tariffs on some U.S. products indefinitely in January in a bid to reduce trade tensions,” but the Trump administration “did not reciprocate the U.K.’s concession.”
The new agreement means that British goods like the aforementioned Scotch whisky can be imported to the U.S. without the 25 percent tariff, which will be suspended for four months, allowing time to “focus on negotiating a balanced settlement to the disputes,” the U.K. government said in a statement.
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