Possible Suspension of EU Tariffs

In several news reports circulating today, the US and the EU are close to announcing a plan to suspend EU tariffs in relation to the Airbus and Boeing disputes for a 4 month period. Much like the suspension of tariffs on UK products that went into effect yesterday, the goal is to allow focus on a balanced settlement and time for the industries on both sides of the Atlantic to rebuild. While EU officials have indicated this announcement may drop later today, the news is still unconfirmed. We expect more news later and will then provide the full details, but if all goes as currently reported, all of the 25% tariffs on EU beverage alcohol imported into the USA will be suspended with an immediate effect.   

Regarding the news of the UK tariff suspension, we are still awaiting the update in the Federal Register and confirmation from CBP/US Customs on how the effective date will be applied. We will advise on this matter as soon as it is clarified.

We will continue to monitor this situation closely and provide updates as soon as more information is available.