(5 years, 4 months ago)
Commons ChamberI absolutely agree that we need an international rules-based system based on the WTO. It does require reform, but the fact that it needs reform is not an excuse to leave—it is an excuse to be more engaged in those reforms. It is worth pointing out that the United States has done very well, winning around 90% of the cases it has taken to dispute at the WTO. I hope that we all understand that the alternative to a rules-based system is a deals-based system, and the biggest casualties of that will be developing countries.
(6 years ago)
Commons ChamberMay I make a particular plea for the gaming sector so that BAFTA-winning companies such as Wales Interactive, which is in my constituency, can continue to thrive, whether we do or do not leave the European Union?
(6 years, 2 months ago)
Commons ChamberMany small businesses in my constituency tell me that they have never exported outside the European Union and do not have plans in place—particularly in relation to a no deal Brexit, if that was to happen—for how they would export outside the EU. They do not have people who are experts in customs arrangements outside the EU. What practical help can the Minister give to small businesses, to ensure that they can trade outside the EU?
That is a very useful point. Members of the House who have used the export hub and had the export hub visit their constituency have seen the benefits of the very practical help that can be given to small businesses. We have been encouraging UK Export Finance to help more small and medium-sized enterprises trade. We have put UK Export Finance experts in the field, so that they may better understand overseas markets, regulatory frameworks and cultural issues. Our new trade commissioners around the world are there to provide better help. If the hon. Gentleman has not yet had the export hub in his constituency, if he contacts the Department we would happily arrange a time for a visit, so that small businesses in his constituency may get one-to-one advice on the opportunities and help available.
(6 years, 5 months ago)
Commons ChamberI would be happy to do so. I was in the United States and visited a number of our congressional colleagues just two weeks ago. It is worth pointing out that there are 142,000 steel workers in the United States, but there are 6.5 million workers who depend on steel as part of their business, so either reductions in supply or increases in cost are likely to have a domestic effect. Again, I hope our colleagues in Congress will see— I urge all Members of the House with links to either party in Congress to use those links to point this out—that history repeating itself would indeed be tragic for everybody concerned.
At present, half of UK steel exports are sent to the EU. In the light of the US decision to impose tariffs, it is highly likely that the steel industry in the UK will become more reliant on the European Union. Will the Secretary of State make representations to Cabinet to agree that Britain should remain within a customs union? If he will not do so, why not? It is the best way to protect steel industry jobs, including in Port Talbot—many members of the workforce live in my constituency.
No, I will not do that. I believe that a customs union gives us greater trading relationships with some at the expense of greater trading relationships with others. As the International Monetary Fund has pointed out, 95% of global growth in the next 10 to 15 years will be outside continental Europe, so to tie ourselves into a customs model with the slowest growing part of the global economy would be very unwise.
(6 years, 8 months ago)
Commons ChamberWe are working with the European Union to ensure a permanent exemption, and I spoke to Commissioner Malmström yesterday. On the specific case of the United Kingdom, the UK is responsible for only 1% of American steel imports. Much of that is high quality steel, which the United States does not manufacture itself. Some of our steel goes to American defence projects, which means that it would be quite absurd to exclude the United Kingdom, or to apply tariffs to the United Kingdom, on the basis of national security.
The hon. Gentleman is right: there will be a knock-on price effect and there is also likely to be a displacement effect in the global steel market, for which we may have to look at imposing safeguard measures; along with the European Union, we would do so. He is also right that there would be a knock-on price effect in the United States, too. It does not make any sense to protect 140,000 steel jobs in the United States and see prices rise for the 6.5 million US workers who are dependent on steel.
I rather feel that I answered this question earlier. The EU will look to see whether we need to introduce safeguarding measures as a consequence of any diversion. We are working closely with our European partners to assess what the potential may be and what the joint EU response would need to be consequently.