UK-US Trade and Tariffs

Debate between Jonathan Reynolds and Sarah Coombes

Thursday 3rd April 2025 Commons Chamber

[Jonathan Reynolds]

I want to be clear with colleagues, not to invent problems that do not exist. I am aware of comments that have been made about freedom of speech in the UK. They have not been part of the trade negotiations. The hon. Gentleman recognises that I cannot share details of negotiations, but then he asks me to share those details. He knows that I am not going to do that because it would not be in our national interest. However, I say to colleagues that these negotiations are about goods and services in the main. It is important to focus on that—let us not make this more difficult than it is.

[Sarah Coombes (West Bromwich) (Lab)]

West Bromwich is a metal industry heartland. We are home to the Confederation of British Metalforming and many brilliant exporting businesses are in the automotive steel and aluminium supply chain. This morning, I spoke to the chief executive of William King, one of those brilliant local businesses, and she was clear that the Government are right to remain calm and to work to do the deal. While Ministers are working towards that deal, what else can we do to support those businesses to continue to trade and invest with confidence?

[Jonathan Reynolds]

That is the right approach to take. I welcome my hon. Friend’s support and that of the businesses in her constituency that she mentioned. Of course we are trying to find a way through this, but given the situation we inherited after the election, our domestic competitiveness is not what it could be and what it needs to be. Even Conservative Members recognise the impact of aspects of regulation, energy prices and the direction of travel. The output of foundation industries last year and this year is at levels that should concern us all. We have to get that right, which is why this Government are committed to an industrial strategy and a trade strategy that works in partnership with it. As well as endorsing our approach, the feedback from businesses is that that is exactly what they want. West Bromwich is a powerhouse, but I want it to be an even bigger powerhouse in the future, and the same applies to the constituencies of many Members across the House.

Oral Answers to Questions

Debate between Jonathan Reynolds and Sarah Coombes

Thursday 12th December 2024 Commons Chamber

[Jonathan Reynolds]

I say that the Budget was seven weeks ago, so if the Conservative party, which did not tell us how it would pay for the promises it made when it was in government, now has a plan to pay for those promises, I would welcome receiving it in writing, or hearing it here at oral questions or in a statement. The raw reality is that the Conservative party made promises that it had no intention of keeping. We are not going to do that; we will fix the foundations and do what we say. The reason this Government will succeed on growth and business investment in a way that the previous Government did not has to do with the fundamentals: the return to political stability in the UK; an openness to the rest of the world, including the EU—a difficult subject for Conservative Members, I know—which is still our major trading partner; and the willingness of this Government to use their mandate to improve the business and investor environment. Those fundamentals mean that the future of the UK is very promising.

[Sarah Coombes (West Bromwich) (Lab)]

Steel manufacturing is a vital west midlands industry, but business confidence is being dented by retrospective charging of steel safeguarding duties by His Majesty’s Revenue and Customs. Companies that are affected in my constituency and elsewhere feel that such duties were unfairly and wrongly imposed on them during the chaotic Brexit transition period. They tried to work with the last Government, but got nowhere. Given the importance of the steel sector to British industry, will the Minister work with the Treasury to resolve the issue, and ensure that these vital businesses are protected from hefty bills that they should never have been sent in the first place?

[Jonathan Reynolds]

I thank my hon. Friend for raising that important matter. Given the sums of money involved, I can understand why that is a substantial issue for businesses in her constituency. It relates to the duties that were charged at a time of significant political uncertainty. This is a Treasury issue relating to taxation, but I promise we will get her the meeting she needs, and work with her to ensure that she gets the answers she requests for her constituents.

Oral Answers to Questions

Debate between Jonathan Reynolds and Sarah Coombes

Thursday 5th September 2024 Commons Chamber

[Jonathan Reynolds]

I thank the hon. Lady for her kind words. I recognise that the Liberal Democrat manifesto shows that we have many common areas of interest, particularly on industrial strategy and trade. Under this Government, trade policy will match our domestic, economic and business priorities. We will be able to reset our relationship with the European Union because, to be frank, we are unencumbered by some of the internal politics of the last Government. We believe that we can make the most of opportunities around the world. Businesses tell me, as I am sure they tell every hon. Member here, that for many years, politics has been driving the agenda, rather than what businesses need. That will change, and has already begun to change. We will work with anyone in the House who is keen to provide a platform for success on knocking down barriers and getting businesses what they need.

[Sarah Coombes (West Bromwich) (Lab)]

2. What recent progress his Department has made on introducing an industrial strategy.

--- Later in debate ---

[The Secretary of State for Business and Trade (Jonathan Reynolds)]

It is lovely to see you in the Chair, Madam Deputy Speaker, and it is great to see so much interest in the industrial strategy from my hon. Friends. However, I believe Members in all parts of the House can and should support the strategy, and we will seek to make cross-party arrangements. The need is great. We must improve on the UK’s poor business investment performance, which has been the lowest in the G7 for some time. We must recognise that so much chopping and changing of policy in recent years has been to our detriment. That will come to an end under this Government and this industrial strategy.

[Sarah Coombes]

The Black Country has long been a manufacturing heartland, home to numerous businesses, large and small, that support thousands of good-quality local jobs. Given the Government’s commitment to supporting British manufacturing, will the Minister set out how the upcoming industrial strategy will support manufacturing businesses in the west midlands?

[Jonathan Reynolds]

It is wonderful to hear a strong and authentic voice from the Black Country making a charge for industrial strategy; I thank my hon. Friend for her comments. The purpose of the industrial strategy is to capture a much greater share of the big international investment cycles, to explain straightforwardly to investors what those are, to provide consistency and to choose sectors. That does not mean the sectors that are not part of the strategy are not important, but is simply because the strategy must have priorities in it. I think my hon. Friend will support our choices, which will be revealed in the forthcoming weeks. Her area will play a major role in the success of the strategy for the whole of the country.