China Slashes Tariffs on Scotch Whisky: A Boost for UK Exports

China is set to reduce tariffs on Scotch whisky from 10% to 5%, following discussions between UK Prime Minister Keir Starmer and Chinese President Xi Jinping. This reduction aims to strengthen Britain's export market and is anticipated to add £250 million over five years.

In a significant development for Britain's trade landscape, China has announced it will cut tariffs on Scotch whisky from 10% to 5%. This decision follows strategic discussions between British Prime Minister Keir Starmer and Chinese President Xi Jinping aimed at boosting the economic ties between the two nations.

This tariff reduction is expected to provide substantial leverage for one of Britain's most prestigious exports, with an estimated economic boost of £250 million over the next five years, according to UK officials. The move comes as a relief to UK whisky exporters who have been seeking to penetrate the lucrative Chinese market more effectively.

While British whisky exporters celebrate this win, the reduction also aligns with a broader attempt by Beijing to enhance trade relations with the UK. China had previously agreed to bolster labeling standards for Scotch to protect it from counterfeiting, as part of a broader trade dialogue involving British finance and trade officials.

(With inputs from agencies.)