UPDATE 1-China to lower tariffs on whisky imports in boost to trade with UK

China will lower tariffs on whisky imports ‌to 5% from 10%, in a boost to Britain's whisky industry after the ⁠two countries' leaders met this week to repair fraught ties.

The lowering of tariff rate will take effect on ​February 2, according to a statement by China's State ‍Council. British Prime Minister Keir Starmer's office, which announced the deal on Thursday, said it would be worth £250 million ($344.13 million) to UK ⁠exporters over ‌the next ⁠five years.

Scotch whisky tariffs were among the items discussed by Starmer and ‍Chinese President Xi Jinping on Thursday in Beijing, where the ​two pledged greater cooperation in trade, investment and technology. China ⁠imported $445.5 million worth of whisky in 2025, of which 84% was ⁠from the UK, according to customs data and Reuters calculations.

Beijing had in 2017 set a 5% ⁠provisional tariff rate on whisky imports, but removed the provision for ⁠2025, ‌in effect hiking the rate to 10%. ($1 = 0.7265 pounds)