USA And EU Lift Tariffs On Cognac
Just like was done last week for single malt Scotch, tariffs have been agreed to be lifted by the USA and European Union [EU].
Like the suspensions of the tariffs on single malt, the tariffs – related to an elderly airline industry dispute involving Airbus and Boeing – will only be temporary while negotiations continue.
The 25% EU tariff on US rum, brandy and vodka has been suspended, as well as the 25% US tariff on liqueurs and cordials from Germany, Ireland, Italy and Spain, and certain cognacs and other grape brandies from France and Germany.
However, the EU and UK continue to impose a 25% tariff on American whiskey, which is due to double on 1 June 1, 2021.