American whiskey producers have been bracing for an increased 50 percent tariff on exports to Europe to begin at the start of 2024. But on Tuesday, the European Union (EU) announced that it would extend the suspension of tariffs on U.S. whiskey until March 31, 2025, according to CNBC.
The tariff in question was first announced in 2018 after former President Donald Trump imposed tariffs on exported steel and aluminum. The EU struck back by taxing a number of U.S. products in an effort to put the heat on politicians in Republican and swing states. At that time, the EU set the whiskey tariff at 25 percent.
