The Real Reason Scotch Might Be Getting Cheaper
As you peruse the liquor store shelves, you might wonder what makes Scotch so different from regular whiskey, especially considering these spirits generally occupy the same space. According to Mental Floss, if a whiskey comes from Scotland, it gets labeled as Scotch and usually uses malted barley as its source grain. This differs from bourbon, which has to come from the United States, and general whiskeys, which don't have any geographic limitations. Thanks to Scotch's long manufacturing process and price fluctuations, authentic Scotch typically comes with a high price tag (via Loving Whiskey).
If you love this rich spirit but don't enjoy paying premium prices to score a bottle of Scotch from your favorite distillery, there's finally some good news that should get you stocking up on your Scotch supplies now. According to Food and Wine, the US has at least temporarily dropped tariffs against UK foods and beverages. These taxes stemmed from Trump administration tariff policies that were reciprocated by the UK. This tariff drop comes as great news for anyone stateside who loves Scotch, as the US government has removed incoming taxes on UK foodstuff for the next four months. Over the course of spring, make a few extra trips to the liquor store if you can and stock up, as Scotch should see reduced prices thanks to this policy shift.
A fine time for Scotch lovers
Since 2019, Scotch has seen a 25 percent price increase in the States due to hefty tariffs that the government placed on incoming UK goods, according to Food and Wine. Factor in a US/UK trade war and the global pandemic, and you end up with the American whiskey industry facing a particularly tough 2020, losing $300 million in the US alone.
While this news of loosening tariffs seems great for anyone wanting to snag a few extra bottles of Scotch for less, things might get much more drastic later this year. Certain American spirits sent to the UK will face a 50 percent tax later this year in June, and the Biden administration may counter this tax hike with a 50 percent tax increase on incoming UK beverages like Scotch. If this occurs, we might see the price of this whiskey increase to new heights, making it a very volatile year if you love partaking in this classic liquor.
If you have a particular bottle of Scotch you've had your eyes on for some time, the time has arrived to make that purchase. With future economic forecasts seeming grim, it appears we have entered a calm before an economic storm. If you count yourself as a Scotch lover, you need to stock up, prepare to batten down the hatches, and brace yourself while you can.