Brexit Vote: Distilled Spirits Council Disappointed
Plans to Work with U.S. and UK to Ensure Continuity in Trade
The Distilled Spirits Council today expressed disappointment with the outcome of the UK vote to leave the European Union.
“As the result of a 1994 treaty, the vast majority of spirits exports and imports between the U.S. and the EU have entered both markets duty-free,” said Christine LoCascio, senior vice president of international trade, noting that the United Kingdom is the top market for U.S. spirits exports. “The UK’s decision certainly generates significant uncertainty. However, given the shared interest in spirits trade across the Atlantic, the Council looks forward to working with the U.S. and UK governments and others to ensure continued duty-free access for U.S. spirits to the UK.”
In 2015, U.S. exports to the UK reached almost $231 million; of that, 88.5 percent was American Whiskey. UK spirits imports into the U.S. were valued at $1.55 billion in the same year. Of this, approximately 74 percent is accounted for by Scotch Whisky.