whiskey Archives — Page 12 of 12 — Bikernet Blog

UK considers scrapping Trump-era tariffs on US whiskey and motorcycles

by Stefan Boscia from https://www.cityam.com The UK will review its tariffs on US products like whiskey, tobacco and motorcycles in a bid to get Joe Biden to drop Trump-era tariffs on British steel. International trade secretary Liz Truss announced today that she would launch a six-week consultation with British businesses to consider “re-balancing measures” that could see some of the tariffs scrapped. Truss said she wanted to “de-escalate trade tensions” so that the “US and UK can move forward to the next phase of their trading relationship”. The UK’s tariffs on US goods were in retaliation for Donald Trump’s Section 232 tariffs on British steel and aluminium. Trump’s White House said the trade barriers were required for national security reasons, however the policy was widely thought to be a part of the ex-president’s attempt to boost US manufacturing. “We now have the power to shape these tariffs so they reflect UK interests, and are tailored to our economy,” Truss said. “The UK will do whatever is necessary to protect our steel industry against illegal tariffs that could undermine British industry and damage our businesses. “Ultimately, however, we want to deescalate these disputes so we can move forward and work closely with the US on issues like WTO reform and tackling unfair trade practices by non-market economies.” Truss successfully got the US to agree to suspend US tariffs on Scotch whisky and other products earlier this year in a large step toward de-escalating trade tensions. City A.M. exclusively reported in March that Truss and her allies believed this milestone could provide a path to the US scrapping other Trump tariffs. Read more: Exclusive: UK to begin backdoor push to get Joe Biden to dump Trump’s steel tariffs Resolving the trade dispute with the US over steel tariffs could mark another step […]

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Tariff truce may spare iconic US products from huge price hikes

by Jenny Leonard from https://financialpost.com U.S. and EU Set to Reach Temporary Tariff Truce Over Metals Iconic American products affected by EU countertariffs include Harley-Davidson Inc. motorcycles, Levi Strauss & Co. jeans and bourbon whiskey. Business associations and lawmakers have asked that the U.S. lift the duties, saying they do more harm than good. The Biden administration is set to announce it’s reached a truce in a dispute with the European Union over metal tariffs, sparing iconic products such as U.S. bourbon whiskey from a doubling of EU duties next month, people familiar with the matter said. A resolution could be announced as soon as Monday, said the people, who asked not to be identified because the talks are private. At issue is a high-profile dispute that started in 2018 under former President Donald Trump, in which the U.S. imposed duties on steel and aluminum from Europe, Asia and elsewhere over risks to American national security. The EU has since retaliated and on June 1 was set to double tariffs on a list of American products to 50%. Under the agreement with the Biden administration, the EU will refrain from increasing those tariffs and both sides will engage in a dialog on steel overcapacity, according to the people. The European Union had previously proposed to suspend all duties on each other’s products for six months while negotiations on a long-term solution continue. “We can only reiterate that the EU remains committed to finding a solution with the U.S. to the unduly justified tariffs on steel and aluminium and to working with the U.S. in tackling the root cause of the problem, which is the global steel overcapacity,” a spokesperson for the European Commission said on Saturday. Negotiators on both sides of the Atlantic are working to eventually remove the tariffs