The Scottish government welcomed the US lifting tariffs on Scotch whisky exports, a move reciprocated for US bourbon and casks entering the UK. This follows an agreement after a state visit, benefiting an industry that lost £150m due to previous levies.
President Trump has removed tariffs on whisky imports to the US in honour of King Charles and Queen Camilla's state visit, ending a £4m-a-week cost to the Scotch industry. The zero-for-zero deal benefits both Scotch whisky and US bourbon. The announcement comes less than a week before the Scottish Parliament election, triggering a political fight over credit between the SNP, Labour and Conservatives.
Trump announced lifting the 10% US tariff on Scotch whisky, imposed last year, estimating £150m in lost sales and hundreds of job losses. The decision sparked a bitter dispute between Scottish Labour and SNP leader John Swinney, who claims his meeting with Trump last September helped achieve the outcome. UK ministers dismissed his claims, saying the breakthrough resulted from UK government negotiations. The timing coincides with King Charles's visit to Washington and the final week of the Scottish parliament election campaign.
Trump removed tariffs on UK whisky exports Thursday, crediting King Charles III's state visit with helping secure the decision. The tariffs had cost Scottish whisky producers £4 million per week since their imposition last year, with a 25% tariff threat looming. The Scotch whisky industry employs 40,000 people in Scotland and is a major purchaser of used US bourbon barrels. Buckingham Palace expressed gratitude for the "warm gesture" that will benefit British whisky industry and supporting livelihoods.
Diageo shares rose 2% after Trump announced removal of 10% tariffs on Scotch whisky in honor of King Charles. UK house prices unexpectedly increased 0.4% in April with annual growth reaching 3.0%, while NatWest reported Q1 profits of £1.4bn despite setting aside £140m for potential economic worsening.
Trump announced the removal of all tariffs on whisky imports following King Charles's state visit to the White House, calling it a gesture in honor of the British monarch. The Scotch Whisky Association estimates the previous 10% tariff cost the industry £4m per week. The announcement comes after UK Prime Minister Keir Starmer negotiated a trade deal last May that reduced the tariff from 27.5% to 10% on most goods including whisky.
Trump has removed all tariffs and restrictions on whisky imports in honour of King Charles and Queen Camilla's state visit to the US. The move lifts a 10% tariff on Scotch whisky and averts a planned 25% charge on single malts that was set to return this spring. The policy change allows Scotland to resume working with Kentucky on whisky and bourbon production, with the Scotch industry importing around £200m-worth of used bourbon barrels annually.
Donald Trump has announced the removal of tariffs and restrictions on whisky imports in honour of King Charles and Queen Camilla's state visit to the US. The president said he would lift restrictions on Scotland's ability to work with Kentucky on whisky and bourbon, a move that removes a 10% tariff introduced under his administration. The Scotch whisky industry, which exports around £200m-worth of used bourbon barrels annually from Kentucky, has been lobbying for tariff relief. Mark Kent of the Scotch Whisky Association called it a significant boost to the industry's most valuable export market.
Donald Trump has announced he will remove tariffs and restrictions on whisky imports in honour of King Charles and Queen Camilla's state visit to the US. The US president said he would lift restrictions on Scotland's ability to work with Kentucky on whisky and bourbon production. Industry representatives welcomed the move, saying distillers would be able to "breathe a little easier" during a period of significant pressure on the sector.
