New bill ‘key’ to boosting US spirits exports

The Distilled Spirits Council (DISCUS) today welcomed a new trade bill which it said would be “key to opening foreign markets to American spirits products.”

The Trade Promotion Authority (TPA) bill, recently introduced by the Senate, aims to ensure congressional input and oversight for US trade priorities and that trade agreements are passed “without delay”.

The bill will allow the US President Barack Obama to secure the “best possible agreements” for its industries, agriculture and workers, according to DISCUS.

“This bill sends a signal to the rest of the world that the United States is serious about concluding important trade negotiations,” said Distilled Spirits Council President and CEO Peter H. Cressy, whose membership includes both large and small distilled spirits companies that export their products to over 130 countries.

The agreement comes as the US prepares to conclude the Trans-Pacific Partnership (TPP) agreement negotiations with 11 trading partners.

“Trade promotion authority is crucial to completing market-opening agreements, such as TPP, which will benefit US spirits exporters of all sizes and support US jobs across the country,” Cressy said.

According to DISCUS, global US spirits exports have nearly tripled over the past decade, reaching over $1.5 billion in 2014, while Bourbon and Tennessee Whiskey accounted for just over $1 billion of the total.

Cressy stressed that expanding exports has become increasingly important to the US distilled spirits industry adding: “The ability of the US to conclude high standard, comprehensive and trade liberalizing agreements will help to ensure the long term success for the industry. It is crucial that Congress pass TPA legislation without delay.”