Offering positive feedback on the trade talks with the US, the UK Trade Secretary Liz Truss said she is “pleased that the US has not applied additional tariffs.”
“Announcement does not address tariffs that already exist on goods like single malt scotch whisky.”
“I am therefore stepping up talks with the US to remove them as soon as possible.”
The comments after the US announced on Wednesday that it would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods.
The Scotch Whisky Association, Chief Executive Karen Betts, however, said: “The tariff is inflicting huge damage on the Scotch Whisky sector, with exports to the US down 30% since the tariff came into effect and the industry grappling with losses now totalling around 300 million pounds ($392 million).”
GBP/USD refreshed fresh daily highs at 1.3082, helped by fresh US dollar selling across the board. The upbeat remarks also boost the sentiment around the cable.
The spot was last seen trading at 1.3072, up 0.30% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.