Oral Answers to Questions

Matt Western Excerpts

Thursday 19th November 2020 Commons Chamber

[Dame Diana Johnson (Kingston upon Hull North) (Lab)]

What assessment she has made of the potential effect on UK trade policy of the outcome of the 2020 US presidential election.

[Matt Western (Warwick and Leamington) (Lab)]

What assessment she has made of the potential effect on UK trade policy of the outcome of the 2020 US presidential election.

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

We have made good progress on our US deal, agreeing the majority of text and the majority of chapters. We are working with both sides of the House in the US for a deal that benefits both our two nations.

--- Later in debate ---

[Elizabeth Truss]

In the new UK global tariff we have reduced the tariffs on 100 green goods, and we want to encourage more other countries to support that. Of course we are committed to working with the US, and next year we will have the presidency of the G7. That is a really good opportunity for us to pursue that agenda of tackling climate change, alongside our COP26 commitments, and of course we will be looking at putting these in all our trade deals.

[Matt Western]

Although we would all want a successful outcome to any trade negotiations with the US, will the Secretary of State confirm that, according to the Government’s own best-case scenario, any US deal with the UK will account for growth of only 0.16% over 15 years? Will she confirm what this will translate into if we do not get a deal with the EU? What loss in growth will we sustain?

[Elizabeth Truss]

Our assessment suggests that a £15 billion increase in trade will result from a US deal and also that we will see tariffs of half a billion pounds taken off fantastic British companies, be they in ceramics or the car industry, which will help to boost that growth. But the EU deal and the US deal are not in contradiction to each other; we should be aiming to do both. The problem is that the Labour party seems willing to agree any deal with the EU and willing to agree no deal with the US. What Conservative Members want is a good deal for Britain.