CH’NG Poh Tiong
WELCOME TO EDITION 808 of GRAPEVINE
“This is fabulous news, and our industry is delighted,” Chief Executive of the Scotch Whisky Association Karen Betts.
Last Thursday 4 March 2021 brought spirited relief to Scotland’s whisky distilleries up and down the country.
The Biden Administration suspended a punitive 25% tariff imposed by Donald Trump in October 2019 on Single Malt Whisky. The 4-month truce may become permanent.
The United States and the then 27-nation European Union had imposed billions of dollars of tariffs over the years when they accused each other of giving unfair subsidies to Boeing and Airbus respectively.
Britain has exited the EU but the United States is Scotch whisky’s Number 1 market, valued at over £1 billion, accounting for a fifth of global exports.
“This is fabulous news, and our industry is delighted. The tariff on Single Malt scotch whisky exports to the US has been doing real damage to Scotch whisky in the 16 months it has been in place, with exports to the U.S. falling by 35%, costing £500 million,” Chief Executive of the Scotch Whisky Association Karen Betts said.
The good tiding is also great news for whisky lovers throughout the US.
Wishing you A Very Good Week.
