lucentius/iStock through Getty Pictures
There was a constructive growth within the U.S. whisky trade this week when the European Union confirmed that it will lengthen the suspension of tariffs on U.S. whiskey till March 31, 2025. A 50% levy was set to take impact in 2024 as a part of a commerce dispute between the U.S. and the European administration that dated again to 2018.
Distilled Spirits Council CEO Chris Swonger mentioned the trade tremendously admire the efforts of the Biden administration to safe an prolonged suspension of the European Union’s retaliatory tariffs on American Whiskeys. “This settlement is welcome information for U.S. distillers throughout the nation who had been going through the reimposition and doubling of the EU tariff to 50% within the new 12 months,” he famous.
“The U.S. distilled spirits trade has labored onerous to regain its footing within the EU market because the EU suspended its 25% retaliatory tariff on American Whiskeys in January 2022. The U.S. spirits trade has seen constructive outcomes, with American Whiskey exports to the EU bouncing again to surpass pre-tariff ranges.”
A number of the greatest recognized American whiskey manufacturers are Brown-Forman’s (NYSE:BF.A) (BF.B) Jack Daniels, Beam Suntory’s Jim Beam, Brown-Forman’s Woodford Reserve, Campari Group’s Wild Turkey, Diageo’s (DEO) Bulleit, Michter’s, Heaven Hill’s Evan Williams, Seagram’s Seven Crown, Sazerac’s Southern Consolation, and Beam Suntory’s Maker’s Mark.