Oral Answers to Questions

Mark Eastwood Excerpts

Tuesday 12th May 2020 Commons Chamber

[Mark Eastwood (Dewsbury) (Con)]

What assessment she has made of the potential merits of a free trade agreement with the US.

[Alun Cairns (Vale of Glamorgan) (Con)]

What assessment she has made of the potential merits of a free trade agreement with the US.

[The Secretary of State for International Trade (Elizabeth Truss)]

A free trade agreement with the United States is set to deliver a £15 billion increase in bilateral trade, benefiting every region of the UK, including the nation of Wales and the great county of Yorkshire, and delivering an extra £1.8 billion for workers’ wages.

[Mark Eastwood [V]]

In the light of the difficult circumstances we find ourselves in globally, I would like to congratulate the Secretary of State on setting up talks with the US. With the UK set to leave the EU at the end of the year, it is also important that we have free trade agreements in place with other nations, particularly our Commonwealth partners and countries in the far east. Therefore, could my right hon. Friend provide an update on progress with the potential trade deals with Australia, New Zealand and Japan?

[Elizabeth Truss]

I thank my hon. Friend for his question. We will shortly be launching negotiations with Japan, Australia and New Zealand, and pressing for early accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This is an important step in diversifying our trade and making sure we are not just dependent on a small number of countries for our imports and exports. It is also important that we work with like-minded free market democracies to help set global standards in trade.