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Little cheer as US tariffs on Scotch whisky have cost industry £500 million

The Scotch whisky industry has lost than £500 million in exports following a trade fall-out with former US President Donald Trump.

Shipments of single malts to the States have fallen by a third since Trump imposed 25% tariffs.

The swingeing extra costs came during a US row with the EU over subsidies given to plane makers.

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The Scottish Whisky Association (SWA) said:

“These tariffs are not only causing short-term losses to the industry, but also long-term harm to the Scotch Whisky category, since the market share lost as a result of tariffs could take years to rebuild.”

Britain’s International Trade Secretary Liz Truss is keen to resolve the issue.

International Trade Secretary Liz Truss

A source close to Ms Truss has said:

“No one has fought harder on the Scotch whisky issue than Liz and she is going to continue to push it with the Biden administration.

“She absolutely understands the pain of whisky producers and is determined to get these tariffs lifted to support jobs.

‘We are determined to be proactive – deal-makers rather than deal-takers.

“This whole issue shows why we’re better off as an independent trading nation.

‘The EU did little to end this 16-year dispute and has failed to stand up for UK interests and Scottish interests in particular.

“Liz will be pressing hard on this and will jump on a plane to the US as soon as she can.”

 

 

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