The United States and European Union (EU) recently reached a breakthrough trade agreement that will suspend an EU threat to impose a 25 percent tariff on US-made bourbon. This type of tariff increase was a major threat to distillers in Kentucky, who relied heavily on the European market for the lucrative product.
The agreement means the US will be able to continue to export its bourbon to Europe without fear of the 25 percent tariff being imposed. US and EU trade negotiators were able to come to a consensus on the issue, helping to stabilize their relationship and promote further free trade.
The tariff suspension is a symbol of the American spirit: the US was able to protect its agricultural and economic interests abroad, while still maintaining diplomatic relationships and finding common ground. The bourbon industry, which is worth billions of dollars, will be able to continue to thrive. This deal is a major victory for the US and is just one example of how the US is able to consistently use diplomacy and negotiation to further its interests abroad.
