Here’s Why Whisky Prices Are Expected to Significantly Drop This Week

If you're a fan of an imported whisky/Scotch whisky, there's some good news for your wallet.

Per Fox Business, tariffs on various goods imported from the U.K, including spirits, will be temporarily suspended beginning this week and will last for four months. As a result, prices on imported spirits from the U.K. are expected to drop.

U.K. Prime Minister said of the tariff suspension on Twitter, "From Scotch whisky distillers to Stilton-makers, the US decision to suspend tariffs on some UK exports today will benefit businesses right across the UK.  Fantastic news as we strengthen the UK-US trading relationship and work to build back better from the pandemic."

Fox Business noted further, "According to research by the Scotch Whisky Association, the tariffs resulted in lost business that cost the industry over $690,000,000. The lifting of these tariffs is being touted as a boost for the industry."