The Prime Minister has secured a Scotch whisky tariff cut in China worth £250 million to the UK economy
The Prime Minister has secured a significant win for Scotland’s iconic whisky industry, with China agreeing to cut tariffs on Scotch whisky from 10 per cent to 5 per cent.
The deal, signed during the Prime Minister’s visit to Beijing, will be worth £250 million to the UK economy over the next 5 years. China is currently Scotch whisky’s 10th largest market by value, and this tariff reduction will help Scottish distillers compete more effectively in one of the world’s fastest-growing consumer markets.
This latest success follows the landmark UK-India trade deal, which slashed Indian import tariffs on Scotch and is set to increase sales to India by up to £1 billion a year. That deal alone is expected to grow the Scottish economy by £190 million annually.
Prime Minister Keir Starmer said:
Secretary of State for Scotland Douglas Alexander said:
Mark Kent, Chief Executive of the SWA said:
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Notes to Editors