America scraps tariffs on British whisky exports

The United States has agreed to suspend millions of dollars worth of tariffs on UK exports as part of a deescalation of a long-running trade dispute. In a surprise move, the new Biden administration announced it was cutting the 25 per cent tariff rate on whisky exports to zero for four months. The tariffs, imposed by the Trump administration, had been costing the UK whisky industry about £30 million (NZ$58 million) a week. The decision is designed to give both sides the chance to resolve a long-running dispute over subsidies given to Boeing, at the expense of Airbus, when the UK was a member of the European Union.