MP welcomes US tariff suspension
Borders MP John Lamont has welcomed a new deal struck with the United States, which suspends tariffs on exporting items such as whisky and cashmere for the next five years.
Punitive tariffs were placed on single malt whisky, cashmere and other UK goods during a trade dispute between the US and EU over Airbus and Boeing, which is believed to have cost the industry more than £600million in exports.
Now, distillers are able to focus on recovering exports to their largest and most valuable export market.
The disagreement also hit other industries such as textiles, including cashmere mills, which are particularly important in the Borders
As part of the deal, the UK and US will work together to strengthen cooperation in the civil aircraft sector, involving sharing results from research and development projects.
Mr Lamont said: “The trade deal that the UK Government has secured with the US is great news for textiles and Scotch Whisky businesses across the Borders.
“This is particularly good news for Hawick, which has a number of textile exporters and a distillery to its name.
“Increased levels of trade will lead to job creation here in the Borders and across the rest of the UK.
“The UK has established itself as an independent trading nation and I am pleased that individuals and businesses across Scotland will benefit from this deal.”