The United States and the United Kingdom have agreed to suspend for four months Washington’s retaliation for items such as Scotch in a long-running dispute over air subsidies, saying it would use the time to settle the dispute.
The previous administration of President Donald Trump imposed tariffs on many foods, wines and beverages from the European Union, including Scotch whiskey, and its future is in jeopardy under this sector.
“The United Kingdom and the United States are taking bold and concerted action to reduce the four-month tariff suspension on industry and resolve some of the oldest conflicts in the World Trade Organization (WTO).“A joint statement said.
“This will allow time to focus on negotiating a balanced dispute, and will begin to seriously address the challenges faced by new entrants to the civil aviation market from non-market economies such as China.“, He added.
In December, London announced that it was going to use its new independence outside European union It decided to deviate from the general trade policy of the camp towards the United States and unilaterally suspend tariffs in the hope of opening a deal.
“I am pleased to say that our American allies – under their new President and his hard-working staff in the Office of the US Trade Representative – have accepted our move to seek a just solution.Said the British Minister of Commerce, Liz Truss.
The news was welcomed by the Scotch Whiskey Association.
“Charges for exporting single malt Scotch whiskey to the United States have caused real damage to Scotch whiskey in the 16 months since it came into effect, with exports to the United States falling by 35%, costing companies over 500 500 million”, Announced the General Director of the Association, Karen Bates.