UK-US Trade Deal

Gareth Thomas Excerpts

Monday 2nd March 2020 Commons Chamber

[Elizabeth Truss]

My right hon. Friend is right that this is a major issue for our excellent Scotch whisky producers and other companies such as Walkers shortbread and cashmere producers. I raised the issue again with Ambassador Lighthizer when I saw him last week. I want there to be an urgent settlement of the Airbus-Boeing dispute so that retaliatory tariffs on things such as bourbon, Harley-Davidsons and Florida orange juice as well as on our excellent products here in the UK can be removed. I am urging, as an early part of these trade negotiations, the removal of existing tariffs to show good will towards the negotiations.

[Gareth Thomas (Harrow West) (Lab/Co-op)]

Any increase in trade is clearly to be welcomed, but in private the Secretary of State will be honest, I am sure, about recognising that the benefits of the deal to the UK economy will be relatively small: just a 0.16% increase in GDP, and then only after 15 years. Why does she not do two other things? She could try to persuade her Cabinet colleagues to seek a deal with the European Union more ambitious than the Canada-light deal currently being advocated and, for goodness’ sake, to get behind a third runway at Heathrow.

[Elizabeth Truss]

I welcome the hon. Gentleman’s agreement with me that removing barriers to trade is good for everybody—it is good internationally and good here in the UK. One thing he fails to point out, though, is that there are huge benefits in regulatory freedom and flexibility. As the UK is able to decide its own rules and regulations, we can be more nimble and agile in the modern world—a key benefit of our leaving the European Union and having a Canada-style deal with the EU.