The establishment of favourable trade policies by various governments, as well as the decrease of import levies on spirits, are driving the global whiskey market forward. For example, in July 2018, the European Union and Japan agreed to eliminate tariffs on traded goods such as Japanese whiskey and scotch. Furthermore, the expansion of distilleries around the world is likely to fuel market growth over the forecast period. According to Her Majesty's Revenue and Customs, 54 new distilleries opened in the United Kingdom in 2018. However, swings in average demand for aged premium whiskeys are projected to stifle expansion in the worldwide whiskey market.
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