The European Union said today it will postpone its plans to raise tariffs on American whiskey and other products to 50%; the increases were set to go into effect June 1. The Biden administration is in talks with the EU toward lifting U.S. steel tariffs put in place during the Trump administration.
The Kentucky Distillers’ Association released a statement praising the announcement.
“This is welcome news as distillers in Kentucky and across America were perilously close to a crippling blow on European exports,” KDA President Eric Gregory said in a news release. “This gives both sides some breathing room to return to free and fair trade and once again level the playing field for Kentucky’s signature spirit.
“We deeply appreciate the leadership the Biden Administration, Congressmen John Yarmuth and Andy Barr, Kentucky Gov. Andy Beshear and all global leaders who are working to resolve this ongoing trade dispute that has slashed exports and jeopardized the certainty of our largest overseas markets.”
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