Trade Negotiations
Debate between Douglas Alexander and Jim Shannon(1 week ago)
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Mr Alexander
I hope I can give my hon. Friend exactly that assurance, and I am conscious that there was an additional point I should have made earlier in relation to steel. As part of this agreement, we have included a bilateral safeguard mechanism, which allows us to temporarily suspend or increase tariffs if an industry is suffering or there is a threat of serious injury as a result of reduced duties.
To my hon. Friend’s question, automotive companies will now benefit from selling to India with tariffs under a quota reduced from over 100% to 10%. We have agreed quotas to limit the volume of duty-free imports permitted to enter our markets. That will open opportunities for the sector, giving them a competitive edge in the Indian market and increased access to India’s rapidly growing middle class. As the sector transitions to electric vehicles, so will the market access we have secured as part of this deal. It will give British businesses the opportunity to scale up their exports as production ramps up. Both the UK and India have growing EV markets and production, so we want to protect these industries while ensure that consumers have choice.
Jim Shannon (Strangford) (DUP)
I thank the Minister for his statement. He will be aware of the tremendous filming potential in Northern Ireland, and of the increasing number of Hollywood films shot there. The Northern Ireland film and TV industry has made a significant contribution to the regional economy, boosting it by some £330 million since 2018, and 4,000 jobs are tied to it. It is essential that we outline the importance of trade deals to the regions, and the film sector must be part of that. Solutions must be found to enable global film makers to film in picturesque, skilled, cost-efficient Northern Ireland.
Mr Alexander
Picturesque and skilled—I cannot remember the other word that the hon. Member used, but I agreed with every one of them. As I recollect, significant parts of “The Crown” were filmed in Northern Ireland. There is a huge and burgeoning economic opportunity for the film industry in Northern Ireland; as he rightly recognised, that is a tribute not solely to Northern Ireland’s extraordinary scenery, but to the extraordinary skills and capabilities of its workforce. The film sector is and will remain a key part of our creative industries, which employ millions of people, not just in Northern Ireland but across the whole UK. On his point about the US, I assure him that officials and Ministers are in regular communication with our US counterparts. I will not get into the detail of those discussions, but the point he made has been well taken.
US Steel Import Tariffs
Debate between Douglas Alexander and Jim Shannon(3 months ago)
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Mr Alexander
While I may not agree with that characterisation of the efficacy of the US President’s actions in recent weeks, it is a matter of record that we stand ready to work with the United States to broaden and deepen our trading and economic relationship. We are significant investors in each other’s countries, and that trading relationship matters. The previous Government abjectly failed to secure the trade deal that they promised—the big promise at the time of the Brexit referendum—but with a clear sense of the national interest, and a willingness to engage with open minds, we are ready to have this conversation with the United States.
Jim Shannon (Strangford) (DUP)
I thank the Minister very much for his answers. The time is coming, and I hope we will have better news for the future. President Trump has been very clear that he wishes to work with the United Kingdom of Great Britain and Northern Ireland, and to build on the friendship that already exists, but he is also clear that America comes first. He is a businessman, and we have to acknowledge that. What consideration has been given to addressing the tariff issue with him, and to securing a deal for our businesses? He has made it clear that he is prepared to give and take, and we have much to offer in this very special relationship that we both savour.
Mr Alexander
If one observes the comments made by the Chancellor last night, or by the incoming British ambassador in Washington, it is clear that we are ready to engage in a thoughtful, pragmatic way with the new Administration in Washington, and we want to broaden and deepen the trading relationship. I observe that under the first Trump presidency, bilateral trade between the United States and the United Kingdom increased, and we have ambitions to see that continue.