The latest $7.5 billion round of tariffs on goods from the E.U. comes from a dispute about planes.
Share to linkedin
The US government announced yesterday a 25% tariff on all single malt Scotch whisky imports, as part of a wider set of tariffs aiming to punish the European Union. Taking effect October 18th, the U.S. Trade Representative’s office released a list of hundreds of goods that will get hit hard beyond whisky. It includes Parmesan cheese from Italy, olives from France and Spain, wool clothing from the U.K, and European aircraft. The overall list covers approximately $7.5bn of goods.So why is this happening? It all has to do with planes, rather than the tariffs that the E.U. had placed on Bourbon in 2018 .
It certainly is a major piece of bad news for the Scotch whisky industry, as the U.S. is its largest market. Overall Scotch whisky exports to the US last year were worth $1.3bn, accounting for over a fifth of total global exports by value. The U.S. single malt market itself is worth $463 million dollars, over a third of the entire global market for Scotch single malt.
With Christmas shopping coming up, single malt sales are likely to suffer. As an example of what could potentially happen,
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The Trump Administration Is Putting a 25 Percent Tariff on Your Favorite European FoodsThe Trump administration is putting a 25 percent tariff on your favorite European foods
Leer más »
Trump Administration Slaps 25% Tariff On Single Malt Scotch Whisky ImportsThe latest $7.5 billion round of tariffs on goods from the E.U. comes from a dispute about planes.
Leer más »
Trump administration plans to move forward with DNA collection of migrantsThe Trump administration is moving forward with plans to implement collection of DNA from migrants who've been arrested, according to a Department of Homeland Security official.
Leer más »
Trump Administration Slashes Refugee Program to New LowLast week, Trump proposed a reduction in the number of refugee admissions to 18,000 persons for 2020, the lowest number in the 40-year history of the refugee program. Simultaneously, he issued an executive order requiring states and localities to consent to the placement of refugees in their communities.
Leer más »
Top U.S. Sanctions Chief to Leave Trump Administration for Private SectorThe Trump administration’s top sanctions chief—responsible for wielding the financial firepower of the world’s most powerful economy as the White House’s primary foreign policy tool—is leaving for the private sector.
Leer más »
Trump administration advances plan for migrant DNA collection
Leer más »