US and EU Reach Agreement to Avoid Tariffs on Bourbon and Whiskey

US and European trade negotiators have reached an emergency truce to block a 50% tariff on American whiskey and bourbon that was set to be imposed by the European Union. The tariff increase, which would have had a devastating impact on the industry, has been postponed until after the inauguration of the next American president in January 2025. Distillers warn that the uncertainty makes it difficult for them to plan production, but hope for a permanent solution to maintain trade between the US and the European Union.