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Breaking News:US suspends tariffs on single malt Scotch whisky

Mar 4, 2021 5:03:41 PM / by Charles Agutter

UKV are thrilled to relay sensational news for all whisky collectors, as a long-awaited and predicted announcement is confirmed today by the International Trade secretary Liz Truss and the new Biden administration.

The agreement to suspend US tariffs is a real short-term window of opportunity for all whisky investors.

This is one of the greatest boosts to the single malt whisky market and should be recognised as such as the UK and US reach an agreement to suspend the 25 percent tariff on Scotch whisky imposed by
Donald Trump in 2019.

Although this agreement covers an array of items, our focus is firmly on the Scotch whisky market.

Karen Betts commented that this was “fabulous news” as exports to the US had fallen by 35% since the tariffs were imposed costing the industry over half a billion pounds.Boris
Today’s announcement is sure to 'quadruple' demand in the United States that will almost certainly
have immediate effect on the single malt whisky prices and market.
We therefore strongly encourage investors to take full advantage of this tremendous boost in demand to the market as soon as possible to capitalise on this four-month window before demand starts to impact the supply and prices move.

Topics: Whisky Collecting

Charles Agutter

Written by Charles Agutter

UKV International

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