The whiskey industry hailed the arrangement to ease trade tensions among the North American allies and said it hopes it's the first of several rounds of good news on the trade front. Distillers have suffered shrinking exports since the last half of 2018 due to tariffs in some key markets.
"We hope the U.S. and our trading partners can build on this positive momentum to resolve all of the remaining retaliatory tariffs that our U.S. distilled spirits exports face, particularly the European Union's 25% tariff on American whiskey," Chris Swonger, president and CEO of the Distilled Spirits Council of the United States.
Tariffs have become a big headache for American whiskey makers as they increasingly look overseas to expand sales. Tariffs on American whiskey remain in place in China and Turkey as well as the EU. The focus is on the trade barriers still hurting distillers looking to sell their whiskeys in the crucial EU markets, said Eric Gregory, president of the Kentucky Distillers' Association. But he hailed the deal to remove tariffs in Canada and Mexico.
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