Donald Trump, the president of the United States, announced severe worldwide import duties that would apply starting on April 5 and including a 10 % tax on all British items and a steeper 20 % rate for imports from the European Union.
One of the most violent protectionist measures in recent years, the shift has sparked issue in a number of industries, including whiskey whisky producers. The scotch whisky association ( SWA ) spokesperson depressed about the potential impact on the sector.
The economy is disappointed that these tariffs could have an impact on Scotch whisky. We support the UK government’s concerted efforts to reach an agreement with the US leadership, and we continue to support this determined and rational approach to finding a solution, the director said.
The SWA represents over 90 businesses in the Scotch whisky industry, including family-owned factories and suppliers of international souls, who make up the majority of Bourbon whisky generation. The US is a major export location, making the business have huge relied on global markets.
In a bid to lessen the full effect of the taxes, the UK authorities has been in discussions with Washington. Industry representatives have been given assurances from business secretary Jonathan Reynolds that ministers are still “fully focused” on achieving a deal that will safeguard American trade.
Reynolds said,” We have a range of tools at our disposal and we will not hesitate to act.”
He added that the US government is committed to maintaining a “balanced buying relationship.”
A source from Downing Street believes that the UK’s fairly low price level in comparison to the EU is a signal that progress has been made in negotiations. The difference between 10 % and 20 % is” thousands of jobs,” they said.
Trump’s tariffs reflect a move toward stricter business practices, with Washington targeted nations it sees as industry violators despite the ongoing discussions. Under the fresh program, nations like China, India, Japan, and those within the EU will likely experience yet steeper charges.
