American whiskey drives US spirits exports to report excessive – Drinks Worldwide

The American Spirits Export Report discovered that in 2023, spirits exports totalled $2.2 billion, up 8% in comparison with 2022.

Exports of American whiskey, which account for nearly two-thirds of whole spirits exports, elevated year-on-year by 9%, reaching a report $1.4 billion.

“This newest report exhibits that U.S. exports are persevering with to rebuild after plummeting from the devastating retaliatory tariffs on American spirits imposed by the EU and UK,” stated Rob Maron, DISCUS vp of worldwide commerce.

“The tariffs imposed from 2018-2021 as a part of two separate disputes between the U.S., EU and UK have since been suspended or eliminated, presenting U.S. spirits producers with a chance to recapture misplaced market share in among the U.S.’ largest export markets. Over the span of two years, American Whiskey exports to the EU surged by greater than 60%, climbing from $439 million in 2021 to $705 million in 2023.”

The report additionally revealed that over the previous 20 years, exports have elevated 280%, from $587 million to $2.2 billion.

However the celebratory report additionally included a warning to American policy-makers.

In 2023, the EU introduced that it will be persevering with the suspension of tariffs for 15 months till 31 March 2025, if no settlement is reached by then the EU has threatened to reimpose the tariff on American-made whiskey at 50%, a rise on the beforehand imposed 25%

“We urge the Biden administration to proceed working to safe the everlasting removing of those tariffs,” stated Maron.

“The EU’s 15-month tariff suspension is welcome information, however the uncertainty for the longer term continues to carry craft distillers again from exporting their spirits.”

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