The United States is set to impose $7.5 billion in new tariffs on range of goods from the European Union (EU), including Scotch whisky.
Scotch whisky is included on a long list of goods about to experience a steep U.S. price hike, after the Trump administration announced new tariffs on European imports Wednesday.
The U.S. will impose $7.5 billion annually in new tariffs on select European Union goods later this month. Scotch whisky isthe items targeted with a 25 percent tariff rate. The U.S. is the largest export market for the popular liquor, importing close to 137 million bottles worth $1.3 billion a year.
French wine, Spanish olives, cashmere sweaters, European cheeses and sausages are also among the items likely to become significantly more expensive for American consumers. The largest share of the tariffs are expected to come from a 10 percent rate placed on Airbus aircraft manufactured in Europe. Components of the planes which are assembled in Alabama will not be subject to the new rules.
The United States is the world's top export market for Scotch whisky. Pictured here is the Talisker Distillery Shop, on the Isle of Skye, Scotland.The announcement comes as the World Trade Organization ruled that the U.S. could impose tariffs. The ruling is due to the outcome of a 15-year dispute concerning illegal subsidies that Airbus had received from the EU. The case against Airbus was brought by the U.S.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What’s the Difference Between Whiskey, Scotch, Bourbon, and Rye?Whiskey (and whisky) and bourbon and scotch and rye? Here's how they're different
Read more »
U.S. hits Scotch whisky, Italian cheese, French wine with 25% tariffsThe Trump administration put 25% tariffs on French wine, Italian cheese and sing...
Read more »
Trump set to hit EU with tariffs on $7.5B of goods after Airbus ruling
Read more »
U.S. to hit EU with tariffs of 10% on aircraft, 25% on other goods: officialThe United States will impose 10% tariffs on aircraft and 25% on other industria...
Read more »
Distrustful EU to examine Britain's latest Brexit offerBritain's latest Brexit proposal was bound for a cool reception in the Euro...
Read more »
EU leaders risk trade tension with carbon border tax to protect industryThe new European Union executive risks stoking international tensions over trade...
Read more »