The US will reportedly impose tariffs of 34% on China, hitting the EU with a 20% levy, Trump declared while detailing new restrictions on the country’s trading partners.
The US will also impose a 10% universal tariff on all countries, including on the UK, with Vietnam, Taiwan, Japan and Cambodia among the countries that will face steep tariffs.
In the televised address taking place at the White House Rose Garden on Wednesday 2 April, Trump said: “For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike.”
Speaking on the tariffs Trump continued: “I call this ‘kind reciprocal’ not full reciprocal. If you want your tariff rate to be zero, then you build your product right here in America.”
In light of these announcements on international trade and the potential impact of new tariffs, William Wemyss, founder and director of Wemyss Family Spirits, said in an earlier statement: “The looming threat of fresh US tariffs brings a sense of déjà vu, a reminder of the damaging impact of the last trade dispute, which cost our industry £600 million in just 18 months.
“The US is the industry’s largest export market approaching £1bn of sales and is becoming increasingly important for us as a small player. Tariff-free access gives us the confidence to invest, to grow, and to share our craft with whisky lovers across the Atlantic.
“We urge both the UK and US governments to prioritise Scotch whisky in trade discussions and avoid allowing our sector to become collateral damage once again. Long-term investment and jobs depend on it. While we continue to diversify and build resilience, we remain committed to protecting the legacy, quality, and global reputation of Scotch whisky,” Wemyss continued.
