If there is one thing Brits are enthusiastic about it’s sneaking down to the local for a cheeky pint. While entrepreneurs are anxious about what the divorce with the EU might mean for their business, at least the government has ensured people aren’t deprived of drink. Given how the UK is home to a number of breweries and distilleries, it’s rather important that the ongoing trade deals continue come Brexit Day on Friday March 29 and UK can continue to export and import alcohol.
And this is why the UK has signed two deals with the US so it can continue the flow of booze between the countries even after it leaves the EU. The agreement was made between USTR, the American government agency responsible for developing and recommending United States trade policy, and the UK’s ambassador to the US. Until now, Britain has been able to get access to the spirit market from the US only due to its membership in the EU. With the country crashing out of the trade bloc, it was unclear if Americans would be able to enjoy a tumbler of Lagavulin and if Brits would be able to wash down their chips with a Jack Daniels and coke after March. Fortunately, this deal fixes that.
It’s easy to see why this was an important deal for both countries. In 2017, the UK imported US wine products worth a total of $227m, making it the fourth biggest importer in the world. Similarly, the UK imported distilled-spirits totalling $187m during the same period. For the UK,the deal means startups like Garcon Wines can continue to expand globally.
This isn’t the only trade deal the government has signed to ensure trade continues as normal. On Wednesday January 30, the UK made a trade deal with Chile to ensure the continuous flow of various Chilean products – one of them being wines – into the country and also because that trade relationship which is worth £1.8bn.
While Brexit may be a worrisome topic, UK-based breweries might eventually end up on high spirits. We’ll clink to that. Cheers.