The United States stated that it had agreed to suspend the four-month retaliation rate imposed on British goods such as Scotch whiskey in the long run. Both parties took this initiative to resolve the dispute.
U.S. Administration under president Donald Trump has imposed tariffs on various items such as wine and liquor from the European Union including Scotch whiskey.
In one statement, the UK and US undertook a four -month tariff deferral to ease the burden on the industry and took this step to resolve the dispute.
With this initiative, it will provide space for negotiations to bridge the existing gap. The market hopes Britain and the United States can reach a trade deal before this July.
The US dollar continued to strengthen by 0.30% to the exchange rate of 91.220. The GBP returned strong to the exchange level of 1.3979 as of 11.20 p.m.
