United States Trade Representative Robert Lighthizer announced on Aug. 12, that the U.S. will make modifications to the list of $7.5 billion worth of European Union exports facing retaliatory tariffs.
However, the U.S. decided to keep a 15% tariff on Airbus aircraft. In addition, it retained a 25% tariff on food, beverages and other products coming from Europe. These products include wine, whiskey, liquor and other European exports.
The EU countered the initial alcohol tariffs by implementing a retaliatory duty of 25%. This move lowered American whiskey exports to Europe by 33%.
READ MORE: Alcohol Tariff War Cripples Liquor Industry
"The EU and member states have not taken the actions necessary to come into compliance with WTO decisions," regarding German, French, Spanish and...