EU Considers 50% Tariffs on U.S. Whiskey in January 2024: Trade Uncertainties Ahead

The U.S. Trade Representative and EU Trade Commissioner reportedly plan to meet as the deadline for reaching an agreement on the trade of steel and aluminum products draws near. In 2018, the European Union retaliated after former U.S. President Trump placed tariffs on steel and aluminum imports into the United States. In November 2021, President Biden reached a temporary agreement with the European Union, but if the two sides do not reach a new agreement by 31 October 2023, the 10% and 25% tariffs imposed by the European Union on U.S. products will return, and a second list that includes whiskey will face an additional 25% tariff on top of the earlier 25% duty, beginning on 01 January 2024. Nearly 44% of American whiskey is reportedly exported to the European Union.

More information here: POLITICO Pro | Article | EU tariff threat could punish U.S. exporters again