Published by Global Banking & Finance Review®
Posted on January 29, 2026
1 min readLast updated: January 29, 2026
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China will halve tariffs on UK whisky to 5% after Xi-Starmer talks, expected to boost UK exports by 250 million pounds over five years.
LONDON, Jan 29 (Reuters) - China will reduce its tariffs on Scotch whisky to 5% from 10% following talks between Prime Minister Keir Starmer and Chinese President Xi Jinping, a spokesperson for the British premier said on Thursday.
The reduction is expected to be worth 250 million pounds ($345.35 million) over five years for UK whisky exporters, the spokesperson added.
($1 = 0.7239 pounds)
(Reporting by Andrew MacAskill in Beijing and Muvija M in London, Editing by Kate Holton)
Tariff reduction can lower the cost of imported goods, making them more competitive in the domestic market, which can boost trade and economic growth.
Financial implications for exporters include potential increases in revenue and market access due to reduced tariffs, which can enhance profitability.
The UK economy is the economic system of the United Kingdom, characterized by a mix of private and public enterprises, and influenced by various factors including trade policies.
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