On Wednesday, the CEO of the US Distillation Spirits Council warned that whisky fees in Europe would be “very, very devastating.”
“We got the news early this morning, early. [European Union (EU)] We are ready to impose a 50% tariff on American whiskey. It's going to be very devastating,” Chris Swanger told News Nation's Nicole Berry.
The US has recently been caught up in a trade war with several countries around the world, including Canada, Mexico and European countries. In response to the 25% tariffs from President Trump, which came into effect on Wednesday, the EU quickly shot back with a two-stage approach.
In an interview with Swonger's News Nation, he said, “Our industry understands and understands that the president is trying to bring more American manufacturing here in the US and reduce the trade deficit.”
The European trading bloc, featuring 27 countries, will allow the suspension of existing 2018 and 2020 measures aimed at the US in early April. The committee also submitted a new countermeasure package for the products detained from the US set, which will take effect later that month, including imports totaling around $28 billion.
Ursula von der Reyen, president of the European Commission; said in a statement On Wednesday, Europe regrets “deeply” regretting the extra tariffs from Trump with steel and aluminum.
“Taxes are taxes. They're bad for businesses and even worse for consumers,” von der Reyen said. “These tariffs are disrupting the supply chain. They bring uncertainty to the economy. Work is at risk. Prices are rising. In Europe and the US.”
“The European Union must act to protect consumers and businesses,” she continued. “The measures we are taking today are strong but proportionate.”
The hill reached out to the European Commission and the White House for comment.
