China has announced an increase in tariffs on American exports such as electric cars, soybeans, orange juice, lobsters, salmon, cigars and whiskey.
This decision follows an announcement by Donald Trump, President of the United States of America, of the imposition of tariffs on $50 billion of Chinese products. The first round of these tariffs, on 818 products worth $34 billion, will go into effect on July 6, according the US trade representative’s office (USTR).
China’s tariffs will go into effect on the same date, and will include a 25% hike in import duty on American whiskey. This decision follows similar moves by the European Commission and Mexico.
The US Distilled Spirits Council said it was “extremely concerned” by this trade war. American spirits exports to China are worth approximately $759 million annually, representing 46% of global US spirits exports and 65% of global US whiskey exports.