Scotch whisky makers welcome suspension of costly US tariffs

[Omaha Steve]

Source: AP

By PAN PYLAS

LONDON (AP) — Scotch single malt whisky makers breathed a sigh of relief Thursday after the United States agreed to suspend tariffs on one of Scotland’s main exports in the wake of the resolution of a long-standing transatlantic trade row over subsidies to aircraft companies Boeing and Airbus.

President Donald Trump imposed the 25% tariffs on select products of the European Union, including Scotch single malt whiskies, in October 2019 as part of the trade dispute. While the U.K. is no longer an EU member, it belonged to the bloc when the tariffs were introduced.

Earlier this week, the U.S. and the EU reached an agreement to end the aerospace dispute, paving the way for a 5-year suspension of tariffs. Parallel talks were held between the U.S. and the U.K. over the tariffs.

The tariffs on Scotch single malts were the most high-profile to affect Britain. The Scotch Whisky Association estimated that they contributed to a 30% fall in total whisky exports to the U.S., equivalent to around 600 million pounds ($850 million) in the 18 months to March 2021.



FILE- This Friday, Nov. 13, 2009, file photo, shows Scotch bottles in Cologne, Germany. Scotch whisky makers are breathing a sigh of relief after the United States agreed to suspend tariffs on one of Scotland’s main exports. U.S. President Donald Trump imposed a 25% tariff on single malt Scotch whisky in 2019 as part of a trade dispute between the U.S. and EU countries over aerospace subsidies. (AP Photo/Hermann J. Knippertz, File)


Read more: https://apnews.com/article/scotch-whiskey-makers-welcome-suspension-us-tariffs-a225ed9421735c5d28c8917c23ef2cf2

[paleotn]

1. Yay!!!!!!

[Tomconroy]

2. Here's to you, President Biden!

[peacefreak2.0]

3. Good news!

[Pinback]

4. Excellent.

One of my few indulgences during 2020 was the purchase of a bottle of very good simgle-malt Scotch. I may have to acquire a second to celebrate.

[BlueJac]

5. Nice!

[3825-87867]

6. Don't celbrate yet!

Back in the 70s we had the start of the "shortages." It started with sugar. There was supposedly a shortage so prices went up. Then we had a coffee shortage. Prices went up. Then came the first of the gas shortages. These all caused hefty price increases in each of these staples. And the businesses had he gall to tell us that as soon as the supply were replenished, the prices would return to their original value.! And the check was in the mail!

I still marvel at the people who tell me they're going to buy a half gallon of ice cream. I remind them that it's now one and one-half quarts for the same price! Most are more than surprised.

If any of us thinks that the price of good old Scotch will come back to pre tariff prices, well, P.T. was right. No way these greed mongers will give up those profits.

I feel this was the Orange Ass's idea all along - set up phony tariffs then sort of eliminate them but his copro-ate buddies will keep the prices up just as if they raised them all along but blamed the tariff!

Here's looking at you business!

[LiberalLovinLug]

10. You are absolutely correct!

And that's an interesting and plausible theory about Orange Ass and the GOP intentionally raising tariffs so they could just keep the prices the same, and just pocket the extra profit, when they didn't have to deal with the tarriff. No one the wiser.

The reason I can see it happening is it has happened before. I have always thought that the same thing happened with the dramatic increase in gas prices that they blamed on Saddam Hussein, and the result of the turmoil in the middle east from the Iraq War. The jump was so dramatic, prices doubled, then doubled again over a period of 5 years.

When the Iraq war ended, and Iraq's oil was "safely" in the hands of the western powers again, and markets stabilized again, prices stayed relatively the same. They may have dipped down a little, but then just went back to the same old raising prices every year by a few cents. Only starting from a new base that was 3x what they started with.

[twin_ghost]

7. I'll drink to that!

[GulfCoast66]

8. Good new for those who don't know the Pinnacle of Scots distilling arts

Which is, of course, Bourbon. When the Scots came to America and discovered the magic of aged corn whisky in charred oak barrels they perfected dark liquor.

For those that prefer whisky on training wheels, drink up. I’ll stick with the final product.

I’m happy for my few friends that prefer an inferior product. And I’ve drank a decent amount of Walker Blue at $300 a bottle. A $24 dollar bottle of Makers Mark Bourbon is a better drink.

Sarcasm meant. Well, not so much.

[NBachers]

9. Oh, that reminds me- I've got a couple of bottles of Ardbeg Corryvreckan waiting to be picked up.