Whiskey distillers cheer as EU, U.S. strike deal to avoid 50% tariff on exports…

Jack Daniel's Tennessee Whiskey Getty Images U.S. whiskey distillers are breathing a sigh of relief as they will avoid a looming 50% tax on shipments to Europe. The European Union said Tuesday it would extend the suspension of tariffs on U.S. whiskey until March 31, 2025. The 50% levy, which came in the context of a broader steel and aluminum dispute between the U.S. and the European bloc, was set to take effect in the new year. "For the past two years the United State and European Union have been engaged in critically important negotiations," said U.S. Trade Representative Katherine Tai, who oversaw the deal. "Our goal is to forge…