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cnbc_topnews may 01, 2026

Trump scraps Scotch whisky tariffs ‘in honor’ of King Charles

Trump removes tariffs on Scotch whisky, benefiting Scotland's economy.

impact+0.40 sentiment+0.30 n=3
donald trump scrapped tariffs on scotch whisky on thursday, saying he did it "in honor" of king charles iii and queen camilla after their state visit. the tariffs had been imposed under his liberation day policy, which put a 10% blanket tariff on uk goods, overriding a previous zero-tariff arrangement. the scotch whisky industry employs about 40,000 people in scotland, where whisky made up 23% of all goods exports in 2025. the scotch whisky association said in september the tariffs were costing members £4 million ($5.44 million) per week in lost exports. the industry also faced the prospect of tariffs on single malts returning to 25% in the coming months if no deal was reached. trump's truth social post credited the king and queen: "they got me to do something that nobody else was able to do, without hardly even asking!" the uk government confirmed the changes apply to all whisky tariffs, including irish whiskey. buckingham palace said the king "sends his sincere gratitude for a decision that will make an important difference to the british whisky industry."
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