UK-US Trade

Lord Inglewood Excerpts

Monday 12th May 2025 Lords Chamber

[Baroness Gustafsson (Lab)]

To clarify, a lot of key sectors are covered in this framework, and this framework is a final decision on how those key sectors will be treated when it comes to trading between the UK and the US. Those sectors are things such as automotive, steel and pharmaceuticals, but also beef and ethanol, which we have heard so much about. But they are not all the sectors where trade is a part of the UK-US relationship; it could be areas such as technology and how we think about the relationship with that. So yes, this is a final agreement for the sectors that have been covered, but it does not necessarily cover all the sectors. There is still work to be done to understand what those future trading relationships look like with respect to those other sectors.

With regard to how this will be treated within Parliament and whether it will be ratified as a treaty, forgive me—I could not comment on that specifically. I would very quickly run shallow of my parliamentary journey of knowledge, which is still at its earliest stages, but I will be sure to write to the noble Lord on the specifics.

[Lord Inglewood (CB)]

My Lords, I refer to my declaration of interests. Does the Minister believe that British agriculture’s profitability will be increased or diminished by this arrangement?

[Baroness Gustafsson (Lab)]

What we see in this relationship with the US is an opportunity to think about the opportunity it presents to all our British industries and how we can open that up to best effect. When we think about farming, the key area of the trade in beef is a real opportunity here. For the first time, the US ban on importing British beef has been lifted, and 13,000 tonnes of British beef can now be exported to the US. That is a real advantage for UK farming.

Exports to the European Union

Lord Inglewood Excerpts

Wednesday 20th November 2024 Lords Chamber

[Lord Livermore (Lab)]

As so often on this topic, I agree with the noble Baroness. According to the Resolution Foundation, the previous Government’s Brexit deal imposed new trade barriers on business equivalent to a 13% increase in tariffs for manufacturing and a 20% increase for services. Reducing those trade barriers is a key priority for our European reset.

[Lord Inglewood (Non-Afl)]

My Lords, does the Minister recognise that the current arrangements for exporting to the EU bear disproportionately on small and medium-sized enterprises? Will, therefore, a priority in their negotiations be to reduce those, to stimulate that bit of the economy?

[Lord Livermore (Lab)]

The noble Lord is absolutely correct. As I mentioned a short while ago, in the spring the Government will publish a trade strategy to help reset our relationship with the EU, and a key part of it will be providing more support to small businesses to help them export and particularly to remove some of the barriers that they face to trade with the European Union.