WELSH SECRETARY pledges USA TRADE DEAL WILL help BUSINESSES ACROSS WALES
WELSH SECRETARY pledges USA TRADE DEAL WILL help BUSINESSES ACROSS WALES
Secretary of State for Wales has promised the UK-US trade deal will “benefit working people and businesses across Wales”.
Jo Stevens’ comments come after the Prime Minister, Sir Keir Starmer, announced a first-of-its-kind trade agreement with the United States, claiming it will safeguard thousands of jobs across the UK.
This deal marks the second major trade announcement within a week, following the India Free Trade Agreement on Tuesday.
The new US trade deal is set to reduce tariffs and bolster key British industries, including automotive manufacturing, steel production, and agriculture.
By slashing export tariffs on UK-manufactured cars from 27.5% to 10%, it is hoped the agreement will significantly cut costs for manufacturers, potentially saving hundreds of millions of pounds annually.
The new tariff rate will apply to a quota of 100,000 vehicles, nearly matching the total number of cars the UK exported last year.
Secretary of State for Wales Jo Stevens said: “Working people and businesses across Wales will benefit from the UK-US deal announced today. It secures jobs, reduces costs and delivers a boost to key sectors in Wales like steel, aerospace, car making and life sciences.
“This government has made economic growth our key mission for government and this deal with the United States delivers fantastic benefits for businesses and working people alike.
“Along with the trade agreement with India announced earlier this week, this deal is great news for the UK and great news for Wales.
Supporting British Industry
The Prime Minister recently visited Jaguar Land Rover, where he emphasised his commitment to backing British industry in the face of global economic challenges. He told workers that accelerating trade deals was a key priority to safeguard jobs and support businesses.
Additionally, the UK steel sector, which faced the risk of collapse just weeks prior, will benefit from the deal. The previous 25% tariff on steel exports to the US has been reduced to zero, allowing UK steelmakers to continue operations without financial strain. This follows a government intervention last month, where the Prime Minister took control of British Steel to secure jobs in Scunthorpe.
Agricultural Benefits and Mutual Gains
In a mutually beneficial move, the agreement grants UK farmers a quota of 13,000 metric tonnes of beef for export to the US, with no compromise on British food standards. The tariff on ethanol, widely used in UK manufacturing, will be reduced to zero when imported from the US.
This trade deal is part of the government’s broader strategy to boost the UK economy. Earlier in the week, a new trade agreement with India was also announced, expected to add £4.8 billion to the UK economy and increase annual wages by £2.2 billion.
Prime Minister’s Statement
Speaking about the new trade deal, Prime Minister Keir Starmer said: “The new global era demands a government that steps up, not stands aside. This historic deal delivers for British business and workers, protecting thousands of jobs in key sectors like car manufacturing and steel. My government has put Britain at the front of the queue because we aim to work constructively with our allies for mutual benefit.”
He emphasised the continuing partnership between the UK and the US, highlighting the significance of the special relationship under President Trump’s administration.
The Prime Minister said: “This is jobs saved, jobs won, but not job done. We will continue our efforts to build on this agreement, strengthen the UK economy, and put more money into the pockets of working people as part of our Plan for Change.”
Want more from Businessin Wales? Why not follow us on our socials
Listen to the Businessin Wales podcast
- YouTube
- Spotify
- Apple Podcasts
- Audible
