On Thursday, in a report, the Spectator magazine said, Washington and London have hammered out an agreement to suspend retaliatory tariffs on goods including Scotch whisky. The tariffs were imposed earlier as part of a long-running trade dispute over civil aviation subsidies.

The Trump Administration had imposed tariffs on wide array of EU goods, including wine, spirits, Scotch whisky, and food, which the industry said, put its future at risk.

Both sides agreed to come up with a solution to the dispute and as a first step tariffs on certain products would be suspended.

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