Distilleries in Grampian: Whisky tariffs suspended for five years
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An agreement has been reached between the UK and US to suspend for five years the tariffs which have hit whisky and other industries.
A trade dispute between the US and EU countries over aerospace subsidies has seen damaging retaliatory tariffs levied on products on both sides of the Atlantic.
The Scotch Whisky Association estimates a 25% extra charge placed on single malt Scotch whisky by the Trump administration has since cost the sector hundreds of millions of pounds in lost revenue.
The UK government says it took a decision at the start of this year to unilaterally suspend its tariffs on the US.
Liz Truss, the International Trade Secretary, said: "Today’s deal draws a line under an incredibly damaging issue.
"It means we can focus on taking our trading relationship with the US to the next level, including working more closely to challenge unfair practices by nations like China and using the power of free trade to build back better from the pandemic."
Douglas Ross, Moray's MP, said: "These tariffs were crippling for Scotch Whisky producers in Moray and across Scotland, as well as firms such as Johnstons of Elgin who were also hit with tariffs on cashmere.
"For some time, shortbread was also on the list of products receiving these sanctions so with Walkers suffering as well, it was clear just how bad these tariffs were for Moray.
"I hope our producers will now be able to concentrate their focus on doing what they do best, creating quality produce for export all over the world without penalty."
